Egypt launches first organic fish farm

Project valued at 1 billion Egyptian pounds
Egypt launches first organic fish farm
Fish farm in Egypt

ElKomy Fish Farms Company has established project prawn cultivation on 1,500 acres in the Egyptian desert, in the Al-Moghra region, in collaboration with the Al Reef Al Masry Company.

This is Egypt’s first organic fish farm, employing probiotics to improve water quality and produce shrimp in line with high international standards. The project is valued at roughly one billion Egyptian pounds ($50 million).

So far, approximately 65 percent of the total project has been completed.

The first phase of the project, which will cover approximately 750 acres and 500 ponds, has begun. In the first phase, approximately 115 ponds were cultured, and the first yield is expected to reach 300 tons of shrimp in early Nov. 2022.

“This project aims to support the national economy and meet the needs of the local, regional, and international market, as well as the promising market in the GCC countries, including the UAE, to which we expect our exports to reach 40,000 tons in 2023,” said Hatem ElKomy, CEO of ElKomy Fish Farms.

The UAE’s share of trade exchange with Egypt increased to $1.2 billion in Q1 2022, up from $1.1 billion in the same period last year. The total value of fish exports amounted to $45.7 million.

During the first season, ElKomy Company will be able to produce 630 tons of shrimp while also providing consultancy expertise for similar projects in the region and controlling the quality and size of the product based on regional and global demand volumes.

“We believe that increasing exports of our company’s products to the UAE will significantly contribute to raising the level of successful business between the two brotherly countries, as well as its importance in achieving beneficial and long-term economic partnerships,” ElKoumy added.

Despite the slowing global economy, trade relations between the UAE and Egypt are thriving, with the volume of trade exchange in 2021 totaling approximately $3.623 billion.

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