Egypt is one of the world’s biggest consumers of wheat – and one of its biggest importers.
The country is currently producing eight million tonnes of wheat every year, but consumes around 20 million. This huge gap is covered by imports from other markets such as Ukraine and North and South America.
The role of private companies that specialise in grain import will become even more important in the future as imports are projected to increase to 27 million tonnes by 2025.
Agribusiness companies have an untapped potential to become a crucial component of the Egyptian economy. But their growth is often hampered by lack of innovation, poor productivity and substantial skills mismatches.
With its Agribusiness Advisory service, supported by the European Union (EU), the EBRD helps companies to modernise their operations and improve productivity.
Providing valuable advice leads to quality improvement, which will further strengthen the competitiveness of Egyptian agribusiness in global markets. “The EU is happy being a partner in this endeavor. This project is a good example of the EU’s support for the Egyptian private sector. It also provides opportunities for additional social and environmental benefits in the agribusiness ecosystem,” said Ivan Surkos, Ambassador to the EU Delegation in Egypt.
One of the Egyptian firms which has benefited from such support is Medsofts. Established in 2001 as a family-run company, today it is one of the biggest importers and suppliers of grains and oilseeds for the local market.
Original source: EBRD
Published on 28 November 2018
