Egypt’s agricultural exports bounce back amidst the global economic constrains

EGYPT – Egypt has exported 68,000 tons of onion since September 2019, with exports of citrus fruits to China recovering and potato exports to European markets improving, according to the Ministry of Agriculture and Land Reclamation.

Head of the Central Department for Agricultural Quarantine at the Ministry of Agriculture and Land Reclamation Ahmed al-Atar stated that the crops are exported in accordance with specifications set in response to the COVID-19 outbreak globally.

In this regard, a technical committee has been deployed at urban ports and seaports as well as sorting and packaging stations to ensure that such specifications are met.

The official added that the government had taken measures to eliminate the obstacles facing agricultural exports such as facilitating air transportation to Arab and European countries at reasonable prices.

They have also organized transportation of workers to sorting and packaging venues amid the partial curfew taking place in the country with vehicles carrying vegetables and fruits have been exempted from the curfew.

This update comes days after the Minister of Industry and Trade exempted green beans, peas and peanuts from the decree banning legumes exports for three months to fulfil local demand in light of the coronavirus pandemic.

Currently Egypt is facing increasing demand of food, medical equipment and products. The government aims to boost local production while avoiding resorting to imports.

In this regard, any factory that wants to expand its production capacity will be granted a loan after a committee inspects its operation and ensures the size of the loan is suitable and is going to the right place.

Egypt has allocated LE 100 billion (US$6.3 billion) to face the coronavirus crisis, and its repercussions on the economy.

Earlier this month, the Central Bank of Egypt (CBE) decreased interest rates from 12% to 9%. In addition to that, debt installments of agricultural loans have been postponed for six months, and that if needed the duration will be prolonged.

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