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Luna Verde Export & Agri Investment to raise its exports to €28m this season - Daily News Egypt

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Luna Verde Export & Agri Investment to raise its exports to €28m this season

Expectations of an increase in demand for green beans, according to Al-Amry 


Luna Verde Export & Agri Investment aims to increase its exports during the 2019/2020 season to reach €28m, up from €24.2m during the last season.

Reda Al-Amry, chairperson of the company, said that during the last season (2018/2019), the company exported about 2,400 tonnes of its products, an increase of 15% and about 22% in value compared to the previous season (2017/2018).

“Our exports have witnessed successive increases over the past years, recording €22.7m in the 2016/2017 season, and €23.4m in the 2017/2018 season, then €24.2m in the last season,” Al-Amry said.

He noted that the company’s exports of green beans alone recorded about €4.5m during the last season, compared to €3.7m during the previous season. The company aims to increase the exports of the crop during the current season to record about €5m.

He pointed out that the company exports various types of agricultural crops, but green beans account for 70%, while citrus fruits, peppers, eggplants, onions, garlic and pumpkins make up the rest.

He indicated that Italy, Germany, Russia and Belgium are the main markets for the company’s exports, and he expects an increase in demand for various products of the Egyptian agricultural crops during the current season, most notably grapes, citrus fruits, onions and garlic, as well as an increase in demand for beans and artichokes.

He added that there is an increasing demand for agricultural crops preserved in a saline solution, such as artichokes and olives, so the company is seeking to expand in these types of products because of their promising opportunities in the future.

“European countries account for 85% of the company’s exports annually, while the rest of the company’s production is exported to Arab countries. About 70% of the company’s exports go to Europe through Italy, while 30% are distributed to the rest of the European Union,” he said.

He highlighted the importance of having a national shipping line to Europe to facilitate transportation to its markets, especially in light of the high cost of air freight, which is a major challenge for Egyptian exports, as the cost of air freight is about $1 per kg.

He noted that there is a proposal submitted by a group of exporting companies to establish a joint-stock company to develop an old and stalled port in the Abu Sultan area in Ismailia governorate, to facilitate freight movement to the European market and eliminate foreign monopoly in shipping.

He added that this port will provide freight to Europe in two days at a low cost, without quantity restrictions, and will help small companies develop their businesses.

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https://wwww.dailynewssegypt.com/2020/02/10/luna-verde-export-agri-investment-to-raise-its-exports-to-e28m-this-season/
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