The Egyptian mango season has so far been marked by abundant volumes and prices that have not lived up to exporters' expectations, according to Walaa Elhabbal, CEO of Overview Trading Company.
The grower says: "This year's production is much higher in quantity than last year. This is due to the heat waves experienced across the country, which led to an early ripening of the fruit in many regions and an early entry into the market. As a result, we have too much mango and prices that are not keeping pace with rising production costs."
The increase in production costs mainly concerns varieties intended for export, says Elhabbal. He adds: "Our costs for these varieties have increased due to the rise in the US dollar rate, which has been passed on to inputs, whereas export prices are lower than last season."
Losses are offset by varieties destined for the local Egyptian market, as the grower explains: "Local market prices have remained at the same level as last season, and volumes of local varieties have increased significantly. Overall, prices are lower than last season".
"In terms of demand, it's similar to last season, especially from European countries. However, we are facing difficulties in the Arab markets, which are dominated by East Asian origins, and Egyptian mangoes are in shorter supply there," says Elhabbal.
For the rest of the season, Elhabbal expects demand to increase: "Unlike the early varieties which came to market too early, the late varieties will come in normal volumes and there will be a balance between supply and demand."
For more information
Walaa Elhabbal
Overview Trading Company
Tel: +20 150 146 4725
Email: [email protected] / [email protected]
www.overview-trading.com