Brazil “Largest” Recipient of Egyptian Olive Exports

Brazil “Largest” Recipient of Egyptian Olive Exports

Egypt ranked first in terms of countries exporting olives to the Brazilian market in 2020, noting that Egypt’s total exports of olives to the Brazilian market reached about $1.1 million of the total volume Imports, which amounted to $1.5 million, said Nashwa Bakr, Egypt’s commercial consul in São Paulo.

Bakr added – during the symposium organized by the Egyptian Exporters Association “Expolink” on promising opportunities to increase the volume of trade exchange between Egypt and the Mercosur countries, explaining that About 8,000 commodities are allowed to be exported to Brazil.

Bakr explained that meetings were arranged for Brazilian importers during the past two months to visit 3 garlic farms, as an export contract, including 30 to 40 containers was signed, stressing that the demand for Egyptian garlic is unrivaled.

Brazil also imported large quantities of Egyptian potatoes estimated at 5 million tons and oranges at a value of $1.5 million in 2021.

Also, superphosphate tops the list of Egyptian exports to the Brazilian market with a value of $ 306 million, in addition to urea, which is one of the largest exports to Brazil with a value of $ 1.7 billion.

Bakr noted that Egyptian handcrafted carpets are also an important product that has a high potential in Brazil since its first entry in 2020.

Bakr indicated that according to the Mercosur agreement, there are a number of agricultural food products exempt from customs within the first and second list, such as potatoes, seeds, cabbage, mangoes, olives, olive oil, dried vegetables, bananas, etc., while there are products in the third list that have 62% exemption rate and will enter the zero customs rate starting from next September, such as tomatoes and root, cherries, okra and beans, and others.

There are products on the fourth list that receives a 50% reduction, such as mushrooms and melons, processed meats, powder, cane and chocolate.

The  Commercial Consul in São Paulo said that goods and industrial products permanently exempt from customs are in the first list, such as urea, fertilizer, feldspar, white cement, petroleum oils, as well as marble and granite, noting that the list of industrial products in the third list, includes textiles, clothing, and leather, will receive 62.5% exemption on September 1.

Bakr added that the customs exemption in the fourth list reaches about 50%, and includes industrial products such as textiles, garments of finished cotton products, leather-made products, and wooden furniture.