M.O. Group aims to boost exports by 50% this year – Dailynewsegypt
M.O. Group for Food Industries recently participated in the Fancy Food Show in New York from 23 to 25 June. The company’s goal is to expand its exports of candy and chocolate, primarily targeting new markets, especially the United States.
Hamdy Elabrak, Chairperson of M.O. Group for Food Industries, emphasized the company’s commitment to increasing its export share. Last year, their exports of confectionery, chocolate, and candy reached $8m, representing an impressive 80% growth compared to 2022.
Elabrak attributed this export surge to the company’s sustained efforts over the past five years, allowing it to reach customers in approximately 40 countries worldwide.
In 2024, M.O. Group aims to further enhance its exports by 50-60% compared to the previous year. This strategy involves expanding into new markets while strengthening its position in traditional ones.
Ahmed Saleh, Export Manager at M.O. Group for Food Industries, stated: “We are dedicated to increasing our export share, especially following significant expansions in production capacities and the addition of new products.”
This year’s Summer Fancy Food Show features 45 Egyptian food product companies. The event, attended by Commercial Counselor Rabab Elgwaily from the Commercial Office in Washington, highlights Egypt’s growing presence in the global food industry.
Notably, the United States ranks fifth among Egypt’s largest importers of food products during the first quarter of 2024. Egyptian food industry exports to the US totalled approximately $67m, reflecting a remarkable 22% growth compared to the same period last year.