During the first half (H1) of FY22/23, the EGX-listed firm generated EGP 7.23 billion in net profit after tax.
Egypt’s top export crops during that period were citrus, potatoes, onions, sweet potatoes, strawberries, green beans, guava, garlic and pomegranates.
Last week, The Egyptian Cabinet has announced a 20% increase to EGP 1,500 per ardeb in the local wheat procurement price for the 2023 harvest season.
Egypt is continuing to support domestic agricultural and industrial production despite harsh global economic challenges.
The spokesperson noted that the meeting took up progress made in national projects to reclaim desert lands nationwide.
The minister also directed officials to optimize the use of the equipment to guarantee carrying out projects properly.
Araby said the visit offered an important opportunity for probing chances and horizons of scientific cooperation between the two institutes.
North Cairo Flour Mills, a subsidiary of the Holding Company for Food Industries, is an Egypt-based public shareholding company.
The devaluation of the Egyptian pound is compounded by global inflation, with prices rising for the third year in a row.
The government is exerting efforts to provide food commodities to citizens at reduced prices and to confront the rise in prices.
President Abdel Fattah El Sisi has pressed for action to expand the agricultural lot in Egypt.
The Egyptian premier expressed his country's aspiration for more joint projects with the Italian side.
The complex is implemented by ThyssenKrupp AG, a German industrial engineering and steel production multinational conglomerate, and Egypt's Petrojet.
The project will target small-scale farmers in rural areas of Upper Egypt and the Nile Delta with the introduction of modern irrigation facilities.
The project will support the Egyptian government’s efforts to ensure food security by increasing water productivity in agriculture.
The initiative supports large and medium-sized enterprises as well as the large, medium, and small-sized businesses operating under their umbrella.
He revealed that 350,000 feddans have been cultivated, and it has a new yield and a new addition to the agricultural area.
President El-Sisi was briefed on efforts to develop the necessary infrastructure and provide machinery and equipment for modern irrigation methods.
The state focused on economic development, in order to achieve real development and benefit from Sinai's capabilities.
The SAIL Program is one of the ongoing projects in partnership between the Ministry of Agriculture and Land Reclamation and the IFAD.