EGYPT – A new report by Entlaq anticipates that Egypt’s agricultural exports could climb to US$14 billion by 2030, driven largely by advances in agricultural technology designed to address issues like water scarcity and labor inefficiencies.
The report outlines a strategy that focuses on digital innovation to increase productivity and secure the country’s food supply, amid ambitions to reduce reliance on imports.
According to the report, Egypt’s goal is to enhance wheat self-sufficiency from 47% in 2021 to 70% by 2030, a move that could bring over 50,000 new jobs in the agritech sector.
With a strong focus on sustainable practices, Egypt’s agricultural scene is becoming more attractive to venture capital, further establishing its position in regional agritech.
Agriculture is crucial to Egypt’s economy, accounting for 11.6% of the nation’s GDP and employing nearly 20% of its workforce.
This fiscal year, government spending on the sector is expected to top $109 billion.
Plans are underway to boost agricultural production by 20%, leveraging precision irrigation, IoT applications, and AI-enabled tools.
Among Egypt’s agritech startups, Mahaseel Masr has been pivotal, with platforms like Qamhawey offering farmers tools to monitor crops and directly connect with markets.
However, even with the positives., challenges persist.
In October, for instance, Egypt’s poultry industry reported substantial financial losses attributed to an increase in frozen chicken imports, following a government policy that relaxed restrictions on such imports.
Tharwat Al-Zaini, Vice President of the Egyptian Poultry Producers Union, highlighted that these imports have led to an estimated US$0.14 loss per kilogram of live chicken, putting the sector at risk.
Official data shows Egypt’s chicken meat production is expected to reach 1.59 million tonnes in 2023.
Despite nearly doubling production between 2010 and 2019, growth has slowed over the past five years.
A temporary suspension of tariffs on frozen chicken imports in June 2023 has further challenged local producers.
This policy has primarily benefited Brazil, which shipped around 200,000 tonnes of poultry to Egypt last year.
Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
