The Egyptian garlic export campaign is progressing well, according to statements from several exporters, including Anthony Mina, CEO of E2M.
Anthony said: "The season is going well so far. The quality is still very good and demand is still strong. We're taking advantage of a time of year when there isn't much competition in the same quality range with Egyptian garlic, so demand is outstripping supply."
Egyptian exporters are currently in competition with India and China, but it's Spanish competition in particular that could cause concern. According to Anthony, "Spanish garlic is arriving soon, and we'll see how market dynamics evolve."
"Demand is strong, particularly from Taiwan, Canada, and Brazil. Other markets such as Australia, the United States, and Jordan are slower than usual," adds the exporter.
"Limited supply in the face of strong global demand is driving prices up", adds Anthony, "price increases are a daily occurrence".
However, the Egyptian garlic campaign is facing an unexpected problem. According to Anthony: "New players are parasitizing the agricultural export sector to circumvent Egyptian foreign exchange legislation."
Anthony explains: "Importing companies are required to have an export activity in order to avoid the erosion of national foreign currency reserves. Today, more and more importers are parachuting into the agricultural sector, with the sole aim of obtaining foreign exchange earnings to support their import business."
The exporter concludes: "These people have nothing to do with agribusiness. They dump prices while packing very poor quality produce. This damages the reputation of the crop and of all Egyptian agricultural exporters".
For more information:
Mina Anthony
E2M
Tel: +201271227787
Email: [email protected]
www.e2m-eg.com