El Sakya for Agricultural Development eyes EGP 38m in sales ...| MENAFN.COM

Tuesday, 07 February 2023 10:17 GMT

El Sakya for Agricultural Development eyes EGP 38m in sales this year

(MENAFN- Daily News Egypt) El Sakya for Agricultural Development aims to achieve sales of EGP 38m this year.

Moaz Abdullah, general manager and managing director, said that the company achieved sales of EGP 27m last year.

He added that the company is seeking to increase its volume of imports by 15% this year and introduce new vehicles, noting that the company€™s imports in 2017 reached EGP 18m. He pointed out that the most important products that are imported include Naturacid, Naturfos, Natursal Express, Natur Foss, Naturmix L, Naturmix-Mg, and Naturquel, among others.

He explained that the company obtained the agencies of a number of foreign companies, including the Spanish Daymsa, to distribute fertiliser products in the local market, pointing out that the company has also received agencies of local companies, including My Trade and Yara.

El Sakya for Agricultural Development established El Sakya For Agriculture Industries in 2015. It is specialised in manufacturing and trade. Abdullah said that the company plans to complete the establishment of a factory in Nubaria to specialise in the production of compound fertilisers with a capacity of 3,000 tonnes per year and 350 tonnes of special fertilisers. The first compound will be produced in September.

He noted that the factory licenses were to be issued in 2015, but bureaucracy postponed the issuance. He pointed out that the one-stop shop recently implemented by the General Authority for Investment and Free Zones (GAFI) facilitated the procedures.

Abdullah expects the Egyptian fertiliser market to witness a. Fertiliser companies are going to set up new plants for fertiliser production, demanding strict control of manufacturing to prevent fraud in fertilisers.

He pointed out that according to the competition between fertiliser companies and fluctuations in the market, companies have been developing a short-term plan every three months for their work so that they can adjust the plans in accordance with changes in the fertiliser market.

He pointed out that the high prices of fertilisers led to higher cost of production and change the consumption pattern, where farmers tend to buy cheaper fertilisers, which forced companies to assess their products based on market needs to prioritise production based on demand.

Abdullah said that raising the prices of fertilisers leads to economic recession; farmers cannot cover their fertiliser requirements, in addition to establishing a black market, in which unlicensed products are sold.

El Sakya for Agricultural Development is a joint stock company established in 2013, specialised in the importation and distribution of fertilisers and pesticides. The company€™s paid-up and issued capital is EGP 5m.


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