El Reyada For Rice Milling aims to increase its exports by 25% compared to last year by expanding into new markets.
Mahmoud Al-Waili, chairperson of El Reyada For Rice Milling, said that exports in the last year reached $40m and aims to increase that to $50m this year. He pointed out that the company has already started opening new markets last year in the countries of the East Asia such as Indonesia, Pakistan, and Singapore, which imports large quantities of Egyptian fava beans for its high quality and is used in the manufacture of crackers.
He explained that the company also opened other markets in Eastern Europe through the export of the white beans and aims to expand there in the current period, in addition to the rest of Europe and the Gulf countries.
Al-Waili added that the company produces many Egyptian crops, such as rice, fava beans, beans and lentils, as well as imported crops such as Turkish red lentils, Australian and British beans, Russian and Ukrainian peas. Exports represent 35% of total sales.
Furthermore, he elaborated that the company has four rice mills with a daily total capacity of 400 tonnes, as well as a 100-tonne-per-day bean ranch beside a sowing plant for all crops, including beans and sesame with a daily capacity of 100 tonnes.
Moreover, he stated that it is intended to establish a new production line to increase the productive capacity of the bean mill to reach a daily 200 tonnes compared to 100 tonnes currently to cover the company’s contracts. The company will also set up a silo to store grain with storage capacity of 10,000 tonnes before the end of this year.
The company also imported about 30,000 tonnes of Indian and Vietnamese rice, which will be put in the local market. It also plans to import 200,000 tonnes of rice more this year mentioned the company’s chairperson..
Al-Waili stressed the importance of changing the current subsidy system, since the subsidy has not been disbursed to the company since 2016, referring to the importance of supporting exporters as an incentive to increase investments and export.
Additionally, he indicated that removing subsidies on fuel and energy after the liberalisation of the exchange rate caused an increase in production costs.
Over and above he emphasised the importance of participating in foreign exhibitions as a means of gathering a large number of companies from different countries, which contributes to promoting the Egyptian product and opening new markets in many countries.
What’s more, he called for increased support for participation in large international exhibitions, especially for small exporters to help them expand their business.
In addition, he remarked that the company is mainly involved in a number of international exhibitions specialized in the sector, such as Sial Paris, Anuga in Germany and Gulfood.