(MENAFN- Brazil-Arab News Agency (ANBA))
Cairo – Egypt's Chemicals and Fertilizers Export Council (CEC) announced the country now ranks seventh among the world's leading fertilizer exporters. The ranking is led by Russia, followed by Oman, Qatar, Saudi Arabia, Algeria, and Nigeria.
CEC president Khaled Abu El-Makarem said the target is to expand this year between 25% and 30% in exports.
At the opening of the Agro Egypt 2023 show, he explained the chemical sector accounted for 25% of Egypt's non-oil exports in 2022, with about USD 9 billion, which drove it to first place among export sectors.
Egypt's fertilizer exports last year totaled around USD 3.4 billion, increasing from USD 2.3 billion in 2021. As a result, Egypt ranked seventh among the world's leading suppliers of fertilizers.
Abu El-Makarem added that the Russian-Ukrainian crisis contributed to Egypt's entry into new markets, such as the European Union, as an alternative to Russian supplies.
CEC CEO Mohamed Mageed said Brazil, Turkey, and India are among the major promising markets for Egypt's fertilizer exports. He pointed out Brazil has the most significant deficit between potential and actual exports in revenue, with export opportunities exceeding USD 300 million.
France ranked first in the ranking of fertilizer-importing countries in 2022, followed by Italy, Spain, Greece, and Belgium.
Mageed revealed CEC's plan to participate in shows in the upcoming 2023/2024 fiscal year, which includes events in Saudi Arabia, Nigeria, the UAE, Germany, Libya, and Morocco.
Turkey is the leading importing market for chemicals and fertilizers from Egypt, with purchases of USD 1.027 billion. Also among the ten leading importers are Italy, India, France, Great Britain, Spain, Sudan, Belgium, Brazil, and Morocco, with an average growth rate of 32%.
Translated by Georgette Merkhan & Elúsio Brasileiro
©Yuri Cortez/AFP
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