Luna Verde, an agricultural export company, sold $22m worth of products during the last season ending in July, compared to $20m by the end of the 2015 exporting season. Chairperson of Luna Verde Reda Al-Amri said that about 60% of the company’s sales during the last year were in the foreign market, while the rest came from the local market. Al-Amri said that the company does not rely on foreign markets only to achieve its annual target, since exports are subject to foreign market prices. About 80% of the company’s exports are bean products; the other products include strawberries, grapes, peppers, cabbage, lemon, and pumpkin. The Central Bank of Egypt (CBE) cut the value of the Egyptian pound against the US dollar by 14.5% in mid-March.

Source: Daily News Egypt September 07, 2016 21:00 UTC