MENAFN (Daily News Egypt) reported recently that the International Food and Consumable Goods Company (IFCG) is planning to establish a new factory for the production of frozen vegetables after the increased demand, with investments worth EGP 350m.
Mohamed Habib, the company’s export manager, said that the trend towards frozen vegetables production came after the demand for the company’s products increased this year, in parallel with the rise in the global demand for processed potatoes in view of the decline in Europe’s production of potatoes by 25%.
Moreover, the company’s export manager added that the decline in the global production of potatoes last season opened new export markets before the company’s products and increased the demand on the company’s products from its professional markets. The company had contracted to provide 4,000 tonnes of potatoes to Japan this year, in addition to other amounts directed to the markets of Southeast Asia.
Habib explained that the company has successfully concluded contracts to supply its products to McCain in order to meet the needs of the company’s clients in Latin America, in addition to contracting with Eipico on the production of processed potatoes.
He pointed out that the company aims to increase its production volume of potatoes and sweet potatoes this year to 55,000 tonnes, compared to 32,000 tonnes last year, in addition expanding its presence in its share in the local market, in conjunction with the pressure for more demand on the European market products.
‘The company will determine its plan to expand during the fourth quarter of this year in order to understand the volume of export demands, including various products, such as processed potatoes, sweet potatoes, and frozen vegetables,’ Habib said.
Furthermore, he indicated out that the company relies on obtaining 70% of its potato needs from its own farms on 1,100 feddan, while contracts were signed with farmers to provide the rest of the needs, in addition to the company’s trend to store quantities of the crops produced in order to meet export needs the whole year.