Egypt’s food and beverage industry plans to expand its worldwide export footprint and leverage the growing demand for halal products with a major promotion during the Gulfood exhibition, to be held in Dubai, UAE, later this month.
As many as 167 Egyptian companies will participate in the 21st edition of Gulfood, annual food and hospitality trade show, which runs from February 21 to 25, at the Dubai World Trade Centre (DWTC).
Trixie LohMirmand, senior vice president, exhibitions and events management, DWTC, said: “Though a long-standing Gulfood partner, Egypt is bringing a much wider, multi-commodities exhibitor profile to the event in 2016 covering suppliers of freshly frozen fruit and vegetables, chocolate biscuits, dairy and dates.”
“There appears to be renewed impetus among Egyptian producers given that food exports are increasingly accounting for increased revenues in export earnings and that the country is well placed to seize the demand momentum for halal produce,” she added.
In 2014, Egypt shipped $26.8 billion worth of goods around the globe with vegetables, fruits and nuts featuring among the country’s top five exports, said the statement.
Between 2010 and 2014, Egypt’s exports of vegetables reached $1.2 billion and accounted for 4.6 per cent of all exports while those of fruits and nuts jumped to $1.1 billion and represented 3.9 per cent of export totals, it added.
LohMirmand added: “New Egyptian product areas are emerging, as evidenced by the spread of products at this year’s Gulfood pavilion.”
“For instance, meat and seafood preparations are Egypt’s fastest-growing export category soaring 805 per cent between 2010 and 2014 to reach $8.8 million. The country is also gaining a foothold with cocoa exports, which are up 238 per cent over the same period to $148.5 million,” she said.
“With Egypt being a Muslim country, well trusted internationally and well versed in halal preparation, the country stands to gain significantly from the global upsurge in halal food product demand which is expected to grow to a $2,537 billion market by 2019 and account for 21.2 per cent of global food expenditure,” she added.
Though the majority of Egyptian exhibitors’ focus will be on new supplier connections and emerging source markets to further its export potential, international equipment suppliers both exhibiting at and visiting the show are targeting Egyptian food and beverage industry companies driving the country’s expanding food production sector and catering to its large domestic consumer base.
The independent competitive intelligence advisory BMI Research has sounded a bullish forecast for Egypt’s food and beverage industry despite challenges such as high inflation.
BMI has forecast that total food consumption will account for a compound annual growth of 11 per cent until 2019 with per capital food consumption growing just over 9 per cent over the same period.
“The BMI forecasts make for a highly interesting two-way trade scenario as Egypt looks to grow its own food and beverage production capabilities, service high domestic demand and look to earn foreign exchange by widening its export base in terms of geography and product profile,” LohMirmand concluded.
Source: Trade Arabia
