Egypt is key for food industries market: German Bakers Federation
The German Arab Chamber of Industry and Commerce (GAGIC) organised a conference on the food industries market, on the occasion of the German exhibition IBA’s promotional delegation visit.
Chairperson of Monginis, Adnan Khorakiwala, said that Egypt is the world’s largest wheat importer, so the baking industries market has a lot of investment opportunities supported by a population of more than 100 million.
“The wheat consumption is 100 kg per person yearly. Egypt attracts about 411 investors encouraged by the advantages of the market,” added Khorakiwala, noting that cutting the bread subsidy would be an additional attractive element for the baking business.
Consumption behaviours in Egypt are different than in India, where Monginis sales trends decline by the end of every month, said Khorakiwala, adding, “it seems that Egyptians spend all that they have, to contrary of Indians, who save more than they spend”.
Bakery snacks are remarkably developing, and many large companies managed to lead others as a result of a range of creative ideas. However, there are still huge investment opportunities in the market, said El Gazayerli.
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