EGYPT – Karry Foods Industries has announced a USD 35 million investment in a state-of-the-art tomato processing plant in Sadat City in a move to tap into Egypt’s fast-growing tomato market.
Egypt which is the third-largest African producer of industrial tomatoes, is witnessing a surge in private investments attracted by its vast production potential and favorable conditions for vegetable cultivation.
Karry Foods revealed its ambitious plans in a statement published on March 4, announcing the establishment of a cutting-edge plant primarily dedicated to tomato puree production in Sadat City.
Set to commence production by May, the plant’s first phase, boasting a processing capacity of 600 tons/day, has already been completed.
The statement outlines Karry Foods Industries’ strategic vision, stating, “A second phase of development is planned to be completed by the end of the fourth quarter of 2024 with a second manufacturing line with a capacity of 1000 tons/day for tomato processing. This will bring the total tomato processing capacity to 1,600 tons per day.”
By the close of 2024, the company aims to process 90,000 tons of tomatoes, with a future goal of exceeding 400,000 tons annually upon the finalization of all investments.
To ensure a steady supply of tomatoes, Karry Foods Industries has acquired farms in Al-Minya, Esna, El-Hamam, and Sadat City, strategically catering to both winter and summer crops.
Highlighting the export focus, the plant’s tomato puree production aims to meet the demand from European Union (EU) countries, contributing to Egypt’s position as a significant exporter of industrial tomatoes.
Egypt’s Fruits and Vegetables Market, predominantly centered on fresh produce, stands at the forefront of the agricultural landscape.
The country recorded a staggering 6.7 million metric tons of tomatoes in 2020, showcasing the significant growth in tomato output.
Egypt’s tomato exports extend to various countries, including Saudi Arabia, Russia, Libya, and the United Arab Emirates. Notably, the fastest-growing export markets between 2020 and 2021 were Libya, Oman, and Hungary.
Karry Foods Industries’ substantial investment aligns seamlessly with Egypt’s robust agricultural landscape, promising to fortify the nation’s position in the global tomato market and contribute significantly to its economic growth.
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