Egypt Vegetable Oil insights

The Senate Agriculture and Irrigation Committee discussed, during its meeting this evening, headed by Engineer Abdel Salam El-Gebali, the study submitted by Representative Ahmed El-Qanawy on the importance of the olive oil industry as a model for the role of agricultural manufacturing in enhancing the competitiveness of the Egyptian economy. At the beginning of the meeting, Representative Abdel Salam El-Gebali stressed the importance of the study topic due to its connection to the agricultural manufacturing and export file, which is in line with the state's current plan. Representative Ahmed El-Qanawy reviewed the study's axes, explaining that most of Egypt's olive production comes from table olive strains. He added, we launched an initiative to plant 100 million olive trees, but we do not have a clear strategy for agriculture and olive oil production. He continued, we need to confront climate change through scientific research, and work on moving towards planting pressed olives under the contractual farming system. Representative Mohamed El-Sebaei, Deputy of the Agriculture Committee, stressed the importance of the study in shedding light on this important file, with the aim of reaching the best recommendations for this important issue in the fields of agriculture, industry and export. Representative Amr Abu El-Saud, Secretary of the Agriculture Committee, supported him in the importance of moving towards industry and export, stressing that

Written by_Dina Khaled: Hazem El-Menoufi, a member of the Foodstuffs Division of the Alexandria Chamber of Commerce, said that the prices of crude oil have witnessed successive increases in the local market, especially for the "Olein" type, which is used for frying in restaurants. El-Menoufi added to Masrawy that the price of a kilo of Olein oil has risen to 60 pounds today, compared to 52 pounds last Thursday, an increase of about 8 pounds. El-Menoufi attributed the rise in the prices of Olein oil to the increase in its prices globally, as we depend on importing most of our oil needs from abroad. Al-Manoufi confirmed that Arma and Sofoula, the producers of Crystal and Afia, have not raised prices yet. Olein oil is a derivative of palm oil, the most popular and widely produced and consumed vegetable oil in the world. Egypt imports more than 87% of its oil consumption from abroad, at different production stages, ranging from importing seeds, pressing and refining them, importing oils and refining them, or just filling the packaging stage. Four companies affiliated with the government-owned Holding Company for Food Industries are involved in the production of edible oils in Egypt, namely Alexandria Oils and Soap, Tanta Oils, Soaps and Natural Water, Abu

Egypt’s Minister of Investment and Foreign Trade Hassan Elkhatib and his Malaysian counterpart are currently engaged in designing a free trade agreement (FTA) between the two countries, where palm oil will be a key pillar of this imminent action, the Malaysian Minister of Plantation and Commodities Datuk Seri Johari Abdul Ghani told Ahram Online.