Egypt’s farm exports hit a record of more than $11 billion last year. Yet investors can barely buy into that story — growers are almost absent from the exchange. But that could change. Blueberry exporter Agro Ventures says its board has approved a listing next year. Joining me is Eng. Mostafa El Naggari, Agriculture and Irrigation Committee Chairman at the Egyptian Businessmen Association. Welcome to the show, Engineer Mostafa.
Thank you so much for the invitation.
Of more than 5,000 registered produce exporters, only about 50 have the full chain — farm, packing, cold storage, logistics. Is that integration the line between a company you could list and one you could not?
Yes, you are correct that 5,000 companies are registered as exporters in the agri sector — but not more than 1,200 are active. To be listed on the stock exchange is very important. What we have seen in previous years is that the generations overlap and the new generation does not always want to follow what their grandfathers and fathers did. Being listed keeps the companies moving, keeps good management and quality control in place. But it is also important to expand and join what the global market needs — in terms of health measurements, quality control, and mitigation of the effects of climate change. This is the future for the agriculture sector — to be listed in the stock exchange market.
Agriculture’s investor pitch is simple: costs in pounds, revenue in dollars. But seeds, crop protection, and packaging are largely imported. How much of each export dollar is really protected from currency risk?
Egypt has been doing good steps over the last four or five years. The historically we would say that 60% of each dollar earned is an imported component — seeds, seedlings, packaging, shipping. The 40% is in Egyptian currency. At our best we reached close to 50-50, or sometimes 40% imported. But we are back to 60-40 at the moment because of high shipping rates and geopolitical pressures. The good news is that most carton factories are now Egyptian — we have sufficient local production for packaging. Some items like PET are 50-50. But shipping remains a dollar cost. After a settlement of the geopolitical problems around the area, I believe we will get back to 40% dollar exposure and 60% Egyptian currency protection.
Europe now lab-tests one in every two shipments on certain Egyptian produce lines. Is that a temporary compliance cost or a risk discount investors should apply to the whole sector?
There is always an acceleration in health requirements in countries like the US and the European Union — they are very fast to escalate. And the reaction of agri producers everywhere takes time because it requires upgrading infrastructure and significant investment — smart farming, biochar for soil fertility, carbon emissions management. It is a big story and a big investment. But what I want to say clearly is that Egypt’s exports are expanding significantly. In the first half of 2026 we are approaching 5.6 million tonnes of produce. I believe this is a temporary measure. The European Union is always in contact with Egypt — with the quarantine department, with the food security department. Everybody is doing the utmost to keep the supply chain of fruits and vegetables from Egypt to Europe moving.
Engineer Mostafa, it has been a great pleasure to have you with us on the show.
Thank you so much. Pleasure.
