Trading Partners for Food Industries intends to establish its first factory in two years to turn to self-production instead of relying on other factories, aiming to benefit from the increasing demand in the European market.
Chairperson of the company, Mohamed El-Nashar, said that the work is underway on the factory, but the production will start in two years with a capacity of 5 tonnes per hour.
He added that the company’s production volume will double several times, as the actual production of the new plant begins, thus giving the company a greater opportunity to expand in the coming period, increasing the quality of its products, and reducing the cost of the product, which will increase its competitive edge in the external markets.
El-Nashar pointed out the increasing demand for Egyptian products of frozen vegetables and fruits. The company seeks to benefit from this high demand especially in European countries.
The export share amounts to 90% of production, with 10% allocated for the local market, adding that the European market accounts for 75% of the exports, including frozen vegetables and fruits, and artichokes manufactured in salt solution, El-Nashar remarked.
He added that 600 tonnes have been directed to the local market in four months this year, with plans to increase the company’s local market share by 400% next year, along with boosting sales abroad by 35%.
Furthermore, El-Nashar added that the company has already begun to develop the packaging of the domestic market, changing the packaging form o be able to compete to meet market requirements at an appropriate price, in order to increase the company’s market share during the coming period.
The company’s exports reached 3,000 tonnes this year. The company also aims to increase production capacity by the beginning of next year by 50%, to meet the demand from abroad and increase its local market share, highlighted El-Nashar.
El-Nashar also said that the company products are exported to 18 countries, including European countries, Arab countries, Southeast Asia, the US, and Canada. The company plans to deliver products to 25 markets throughout 2019.
The African market is on the list of markets targeted by the company, and the company started exporting to the African market through Libya during the current year.
He pointed out that the demand is increasing for the company’s products in the European market and the company is going to take advantage of this demand, in addition to expanding the rest of its traditional markets, in parallel with entering new markets, to distribute its products in multiple markets to avoid risks and benefit from export opportunities in all markets.