Fertilizers
The president statements' came during the inauguration of new Aswan’s Urea and Ammonia Plant.
She added that the African market is one of the main destinations for Egyptian exports of chemical industries, and the council has developed an implementation plan to overcome the challenges facing increasing exports, strengthening trade relations and providing information on Africa and the products traded in the market.
The ministry had established 731 sites - located in six governorates - where the straw is piled up.
The Chemical and Fertilizers Export Council said the sector's exports hit $2.875 billion during the period from January to July 2020, compared to $3.372 billion recorded during the same period in 2019, with a 15% decline.
Mostafa clarified on Tuesday that such step would decrease the production cost of each ton of fertilizers by LE500.
In FY2017/2018, Egypt achieved a 12.7 percent growth in non-oil exports to record $12.7 billion from $15 billion in the previous fiscal year.
The fertilizers are available in the agricultural associations nationwide and fulfill the needs of the farmers, the ministry reiterated.
The president expressed his appreciation for the conglomerate’s operations in Egypt, particularly in the sector of fertilizers.
The size of wheat cultivated areas increased to 1.5 million feddans at the beginning of this year's winter season.
The measures include providing subsidized inputs and awareness campaigns.
One of them sustained losses of LE 712 million “for unknown reasons.”
Abul Makarem emphasized the importance of pumping more investments in the upcoming period to add new production lines and increase the productive capacity.
Egypt and Romania discussed boosting cooperation in all areas, especially in tourism, economic and commercial fields.
Egypt’s Trade Deficit declined 15.7 percent year-on-year in the first half of fiscal year 2017/18, dropping from $21.7 billion to $18.3 billion.
The Supply Ministry denied any increase in the price of sugar after Egypt’s decision to raise the price of sugarcane purchased from local farmers.
Non-petroleum exports to the U.S. increased by 17.5 percent in the first 11 months of 2017 to reach $1.34 billion, compared to $1.14 in 2016.
The sector is achieving positive progress from the beginning of this year, as it comes at the top of the sectors which increased its exports.
Total investments in the chemicals sector reached a total value of $36 billion.
The chemicals sector is said to account for 3 percent of GDP and 12 percent of the industrial sector's volume.
The company is negotiating with banks to increase the share of loans in funding the company’s new facility to 62 percent from 51.5 percent.
