An official from Al Monairy for Corn Products in Egypt revealed on Wednesday that the company is targeting to allocate 20 percent of its exports to the Kenyan market in 2024. Atef Hammoud, the Export and Corporate Sales Manager at Al Monairy, shared this information during an event organized by the Egyptian Food Export Council (FEC) in Cairo.
Hammoud highlighted that this strategic move follows a notable increase of 10 to 11 percent in the company’s exports to Kenya in the current year, compared to the overall 6 percent reported in 2021. Al Monairy, an affiliate of the Al Monairy Group, boasts a diversified portfolio that includes a farmhouse, an olive production plant, dew mills for flour and semolina production, and its title-driven Al Monairy for corn products.
The decision to tap into the Kenyan market is grounded in its status as one of the largest markets in the region. Hammoud emphasized the logistical advantage provided by Kenya’s Mombasa Port, especially for landlocked countries, and the benefits of Kenya’s membership in the COMESA agreement, offering customs exemptions and enhancing the competitiveness of Egyptian products. The availability of shipping in African markets further influenced Al Monairy’s strategic entry into Kenya.
Hammoud emphasized the importance of field visits for companies eyeing the Kenyan market, advocating a comprehensive study of market dynamics to identify opportunities and entry strategies. While highlighting a smooth payment process, he recommended that companies finalize all procedures and paperwork well in advance, urging importers to complete transfers three days before shipments arrive to prevent delays in goods release from the port.
About Al Monairy for Corn Products:
Established in 2006 and located in the 10th of Ramadan City, Al Monairy for Corn Products operates two mills. The first, a wet corn mill, specializes in producing glucose, fructose, corn starch, corn oil, and gluten feed for various industries. The second, a dry corn mill, produces a range of granulations used in diverse food applications, from coarse grits to fine flours.
