Wadi Food launches frozen vegetables products early next month

Chief Executive Officer of Wadi Food's Agri-Food Division:

Exports account for 40% of annual sales... Our products reach more than 25 countries

The United States, the Gulf and Spain are the most important export markets... Russia is our top priority in 2023

The Sadat Factory is responsible for 90% of the company's exports and has been fully developed

We invested in a new packaging machine specifically designed to increase our exports in the North American catering channel

Wadi Food Industries is preparing to launch its new product, Wadi Food's vegetables, in the local and international markets, early next month.

Mostafa Mohanaa, CEO of the company's agri-food division, said that export is the lifeline for Egyptian companies, adding that the company focused on developing the export market over the past five years, and worked hard to obtain new distributors in the United Arab Emirates, the Sultanate of Oman, Libya, Pakistan and Iraq.

He also said that Wadi Food's exports accounted for 40% of its total sales during the past year, thanks to the company's expansion plan that enabled it to reach more than 25 countries across the five main continents.

He added that the main market for the company's products is the United States of America and then the Gulf Cooperation Council countries, in addition to the markets of Spain, Romania, Pakistan, and Libya. This year, the company is eyeing entering the Russian market.

Regarding the importance of international exhibitions in increasing the company's exports, he said that food exhibitions are very important to Wadi Food, especially at the time being when securing foreign currencies has become more important than ever.

"We intend to participate in all major exhibitions, especially the Gulfood exhibition, where we got the largest number of our new customers in the Middle East and Africa," he said.

Regarding the new products that the company intends to launch during the coming period, he highlighted the company's plan to introduce a number of frozen vegetables to be available in the local and export markets by March 1, 2023, which will contribute to increasing the volume of the company's exports.

He added that the company also intends to launch a healthy range of ketchup during the second quarter of this year, to enhance the product turnover rate and the capacity of the tomato paste line, for which the demand has increased significantly in the Middle East region, along with bean and pickled products that have been becoming increasingly important in recent years.

He also said that the company has finished completely renovating the Sadat factory, which is the factory responsible for 90% of its exports. The company has also invested in a new packaging machine specially designed for a special product that will increase its exports in the restaurant channel in North America, especially with some of the big names in the HORECA industry removing cans from their business and replacing them with bags for safety reasons.

He noted that olives are the main export product in Wadi Food, and Egypt ranks first in exporting olives, which makes it a strategically important product for a company such as Wadi Food, being an olive grower and manufacturer. The United States market is the largest market for the company's oxidized green olives, so the company invested in new machines at the Sadat factory to double the volume of its US exports.

He called on companies operating in the food industry to maintain quality despite the challenges facing the local and global markets, noting that the enemy of Egypt's exports will remain the low quality and standards of some Egyptian factories.

He added that, despite the challenges, the increasing cost of products and production inputs, and the decline in profits, Wadi Food does not compromise on quality to increase profits. He called on the government to also support Egyptian companies by disbursing exporters' subsidies faster to improve exporters' lower profit margins.