(MENAFN- Daily News Egypt) Raya Foods, a subsidiary of Raya Holding for financial Investments, anticipates an annual growth of 20% over the next five years, despite the global challenges of coronavirus (COVID-19).
Omar Abdel Aziz, CEO of Raya Foods, said the company's goal is to provide high-quality products, in accordance with the highest food safety standards, to maintain an advantage over competitors. The company has achieved third position on the market for its product in under three years, and expects to reach first position in the next three years.
In a press statement on Saturday, Abdel Aziz said the company is focusing its operations in more than one country, most notably in Europe, the US and the Gulf Cooperation Council (GCC) area.
It is also expanding in new consumer markets, such as Japan and China, as the company has a competitive advantage in these markets due to the quality of products and outstanding customer service.
Abdel Aziz noted that global views on food are constantly changing, and the demand for pesticide-free products is constantly increasing. He added that Raya Foods is proud to be one of few companies that adhere to the required global quality standards.
Abdel Aziz said that all industries have been negatively affected by the impact of the coronavirus and the halting of international exports and imports.
However, Raya Foods was able to avoid the crisis, as demand greatly increased during the recent period after new markets were opened he said. This has helped the company achieve success as a result of the confidence that its products enjoy in all markets.
Abdel Aziz also said that the company's exports are expected to reach 20,000 tonnes by the end of 2020, doubling by 2023 to 40,000 tonnes. He noted that the Egyptian market is one of the most important in which the company operates, and represents the basis for building the company's trademarks, including Delight and Everest.
Strawberries are one of the biggest selling products manufactured by Raya Foods, representing 50% of the company's sales in fiscal year (FY) 2019/20. This was followed by sales in okra, molokhia, broccoli, and green beans which represent much of the remaining 50%.
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