Egypt’s Abu Qir Fertilizer and Chemical Industries said on Wednesday it plans to increase its exports to Latin America, especially to Brazil.
The company is one of the biggest producers of fertilisers in the Middle East, with sales reached around 16.3 billion Egyptian pounds ($847.7 million) in the financial year 2021/2022 that ended last June.
Abu Qir added that it would be adopting the direct exporting method instead of relying on brokers to enter the Latin American markets.
“The company is already exporting to the Brazilian market but with the help of export agents.” chairman Abed Ezz El Regal said, explaining that Abu Qir can make bigger portion of profits if it adopts direct exporting to the Latin American markets instead.
That’s why, Abu Qir is cooperating with the Arab Brazilian Chamber of Commerce’s (ABCC) regional office in Cairo to know more about the available opportunities in the Brazilian market, Ezz El Regal stated.
He made these remarks following a meeting with an ABCC delegation headed by regional director Michael Gamal to discuss means of cooperation and increase opportunities of entering the Brazilian market through the direct exporting.
