Soya bean exports topped the list of the 20 most exported commodities, followed by sugarcane, fresh fruits and cheese, the report added.
Egypt announced establishing its first commodity exchange company as part of the country’s plan to develop its internal trade, as the commodities exchange will provide protection to small farmers and producers.
The meeting was attended by Minster of Trade and Industry Nevin Gamea and head of the Federation for Egyptian Industries (FEI) Mohamed el Sewedi.
This comes as part of the agreement worth $3 billion signed in January 2018 between the Ministry of Investment and the International Islamic Trade Finance Corporation.
In a report, the center said that it contacted the Ministry of Supply which denied the reports.
“We believe trade growth next year will slow significantly on huge uncertainty and high base,” Citi analysts wrote in a note, predicting China’s exports and imports to fall 5.1 percent and 6.8 percent respectively this year.
On a monthly basis, inflation increased 1 percent in March to record 269.8 points.
On a monthly basis, inflation increased 0.3 percent in February to record 267 points, compared to 266.3 points in January.
Exports rose 23 percent, reaching $2.47 billion in December 2017, compared to $2.01 billion in the same month of the previous year.
The value of global mining and metals deals hit a four-year high in 2017, according to accountancy firm EY.
The Trade Minister said Egypt is seeking to establish a base for the Omani investments in Africa through pumping more investments by Omani businessmen in Egypt.
The import bill of the strategic supply commodities have shrunk by 3 percent in 2017, a report said.
Petroleum exports amounted to $1.8 billion in the first quarter (July-September), compared to $1.5 billion at the same period last year.
Supply commodities include 15 food items, representing 16 percent of Egypt’s non-oil imports.
Those trips, funded by exporters, have been cancelled as part of Egypt’s efforts to streamline imports worth more than $1 billion a year.
Head of the Egyptian exchange discusses the possibility of establishing a “commodities and contracts” exchange in Egypt.
The price of subsidized sugar will be reduced from LE 10 to LE 9.5 per kilo as of September.
China’s official factory readings indicated the global economy remains on solid footing for now, despite concerns that growth may begin to fade in coming months.
Egypt’s state grain buyer General Authority for Supply and Commodities (GASC) GASC said on Tuesday.
The reduction will come as the ton of sugar price will decrease from LE 10,000 to LE 9,500, an official source said.