“M.O. Group’s” Candy and Chocolate Exports Soar by 80% in 2023
M.O. Group for Food Industries is participating in the Fancy Food Show in New York from June 23 to 25, as part of the company’s plan to expand its exports of candy and chocolate to new markets, primarily the United States.
Hamdy Elabrak, Chairman of M.O. Group for Food Industries, stated that the company aims to increase its export share in the coming period, continuing the significant growth in export rates achieved last year.
Elabrak revealed that M.O. Group’s exports of confectionery, chocolate, and candy reached $8 million last year, marking an 80% growth compared to 2022.
He explained that the increase in exports resulted from the company’s efforts over the past five years, enabling it to export its products to about 40 countries worldwide.
The company aims to increase its exports this year by 50-60% compared to last year, through expanding into new markets and increasing its share in traditional markets.
Ahmed Saleh, Export Manager at M.O. Group for Food Industries, said, “We are striving to increase our export share, especially after the significant expansions we have made in increasing production capacities and adding new products.”
He added that the company raised its export share this year to 60% of its sales, compared to about 40% last year.
The company achieved significant growth rates both locally and internationally, increasing its export shares and meeting the high demand for its products in the local market by adding new products that rival imported ones in quality and surpass them in competitive pricing.
A total of 45 Egyptian food product companies are participating in the Summer Fancy Food Show, with the opening attended by Commercial Counselor Rabab Elgwaily from the Commercial Office in Washington.
This year’s participation in the exhibition was organized in cooperation and coordination between the Egyptian General Authority for Exhibitions and Conferences and the Food Export Council, with 31 companies participating under the Egyptian pavilion, and 14 companies from the council members participating in the pavilion organized in coordination between the Food Export Council and the USAID-funded TRADE project.
The United States ranks fifth among the largest importers of food industries from Egypt during the first quarter of 2024.
Egyptian food industry exports to the United States amounted to about $67 million during the first quarter of this year, achieving a 22% growth compared to the same period last year.
