Egypt is expanding into new markets with its agricultural exports, selling potatoes to Morocco and strawberries to Canada, both for the first time.
These measures will expand the Egypt’s foreign currency reserves, the Ministry of Agriculture said in a statement Thursday.
The Moroccan National Office of Food Safety has approved the potato imports. Meanwhile, Egyptian and Canadian authorities have finalized the technical details to start the export of fresh strawberries. The ministry explained that the high quality of Egyptian agricultural was driving demand.
In the first quarter of 2024 Egypt exported over 2.2 million tons of agricultural goods worth approximately $1.5 billion, marking a $300 million increase over the same period last year. Despite supply chain disruptions and bans on specific exports to support the domestic market, Egypt's agricultural sector remains robust. Last year, agriculture accounted for $9 billion in exports, making it Egypt's second-largest export sector. Over the past several years Egypt has made a sustained effort to find new export markets in order to boost its foreign currency reserves.
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