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Extra Global Company aims to double exports by entering new markets - Daily News Egypt

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Extra Global Company aims to double exports by entering new markets

Extra Global Company aims to double its exports during the current export season by expanding into a number of new markets and acquiring new clients. Chairperson Ahmed Farahat said that the company will expand in Africa in the coming season and increase its number of clients in Europe. Farahat expects the company to achieve $1m …


Extra Global Company aims to double its exports during the current export season by expanding into a number of new markets and acquiring new clients.

Chairperson Ahmed Farahat said that the company will expand in Africa in the coming season and increase its number of clients in Europe.

Farahat expects the company to achieve $1m in exports this season by exporting 3,000 tonnes to a number of markets, such as Russia, which accounts for 60% of the company’s exports. The remaining exports will go to Gabon, Bangladesh, and some European countries.

The company exports citrus, potatoes, onions, and grapes. Farahat said that raising Egyptian exports is directly linked to the production of competing countries in importing markets, noting that Egypt mainly relies on production problems in these countries to replace them in target markets.

“The target is not supposed to depend on the problems of other countries. In case of the discipline of these markets, Egypt will suffer from a decline in agricultural exports,” he added.

Farahat pointed to the need to develop work systems, especially on maintaining the prices of Egyptian products abroad, which faced great problems in the past period and competition between companies

He explained that entering into new markets with more supply than demand forces Egyptian prices to decline, making it difficult for companies to reach their objectives in terms of value. He alluded to the need for coordination between Egyptian exporters, through concerned agencies, and based on real market studies to link exporting to an overall strategy.

Farahat stressed the need to pay attention to export support and subsidising participation in foreign exhibitions, as they are among the methods that help exporters increase their business volume.

He added that the international exhibitions allow Egyptian companies to identify new customers, and thus increase the size of the potential contracts every season, raising the value of Egyptian agricultural crops abroad.

“Participation in international corporate exhibitions provides new technologies used in agricultural processes and advanced packaging methods, providing a degree of knowledge to provide market needs according to consumer tastes in those markets,” he concluded.

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https://dailynewsegypt.com/2018/02/09/extra-global-company-aims-double-exports-entering-new-markets/
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