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Egypt Food & Drink Report Q4 2013 - New Market Report

Recently published research from Business Monitor International, "Egypt Food & Drink Report Q4 2013", is now available at Fast Market Research


Boston, MA -- (SBWIRE) -- 11/27/2013 -- We hold to our view that Egypt's household consumption will slow in 2013 in relation to previous years on account of the parlous state of the country's economic and political situation. Nevertheless, we are not calling for a collapse in consumer spending, as several factors - including remittance inflows and the impression that the security situation in stabilising - augur relatively well for private spending patterns over the coming quarters.

Headline Industry Forecasts (local currency)

- 2013 per capita food consumption growth = +10.43% year-on-year (y-o-y); forecast compound annual growth rate (CAGR) to 2017 = +11.52%.
- 2013 alcoholic drinks value sales growth = +18.12% y-o-y; forecast CAGR to 2017 = +17.22%.
- 2013 soft drinks value sales growth = +15.11% y-o-y; forecast CAGR to 2017 = +16.68%.
- 2013 mass grocery retail sales growth = +14.53% y-o-y; forecast CAGR to 2017 = +15.15%.

Key Industry Trends

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Egypt Resumes Imports Of Wheat: In July 2013, Egypt, historically the world's top wheat importer, provided a boost to the global wheat trade with its first import tender since February 2013, Agrimoney reported. Financial difficulties kept the country away from international trade in recent months, with producers instead relying on inventories and the domestic harvest during this period. Egypt remains the world's largest wheat importer, and high global prices are feeding into domestic prices, even if minimally. Even though imports needs have been slightly lower this year, we do not see this as a pattern and believe the country's import needs will only get larger in the coming months.

Egypt's Confectionery Opportunities Attract Foreign Interest: In June 2013, US-based confectionery giant Mars Incorporated was reported to have established a new production line in Egypt, signalling continued confidence in the country's post-revolution consumer outlook. Headquartered in Cairo, the company's North Africa and Levant division has already invested US$120mn in the region, with plans to inject a further US $245mn over the next 10 years. The latest spend, a US$80mn production line in its Giza factory, will produce the iconic Twix chocolate bar, with 60% of inputs sourced from local suppliers. In our view, the development cements Mars's long-term commitment to growth both in Egypt and regionally.

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