As of August 2026, the Egyptian pound (EGP) is hovering at around EGP50 per US$, finally seeing signs of stabilisation after experiencing massive dips at the beginning of the year, seeing a record low of over EGP54 per US$ in March 2026.
This is however still far from values seen across the past decade: From 2006 until 2015, the value per US$ hovered between EGP6 to EGP7, then steadily rose to around EGP18 in 2017 before experiencing massive leaps, first to around EGP30 in 2023 and then to its current value of around EGP50 in 2024, where it has stayed ever since.
This currency devaluation has had significant impacts on many large food businesses in the Middle East region as trade here is closely linked with Egyptian trade. One of the most well-known is Agthia, which has publicly attributed some of its growth and operational challenges to the depreciation of the EGP.
The severity of this situation is such that the International Monetary Fund (IMF) released US$1.8bn last month to support Egypt in its recovery after completing comprehensive reviews, eventually determining that the Egyptian economy has remained ‘resilient’ to impacts from the Iran war.
One of the sectors that has remained strong here is food, and processed food in particular. According to data from the Egypt State Information Service (SIS) and Food Export Council (FEC), processed food exports out of the country grew by 7.1% year-on-year to US$2.43bn between January to April 2026.
Growing amid adversity
Given that this growth period coincided with the peak of Middle East tensions and the onset of the Iran war, this is viewed as a very significant achievement.
“The leap reflects the sector’s continued positive performance and its ability to strengthen its presence in international markets,” an FEC spokesman said.
“Egypt’s top processed food export during this period has been frozen strawberries, which have maintained their position for several years as one of Egypt’s most sough-after products globally.”
This category was followed by cola concentrates, chocolate and edible oils in terms of export value.
Egypt’s top processed food exports thus far in 2026:
Frozen strawberries (US$321m)
Cola concentrates (US$202m)
Chocolate (US$159m)
Edible oils (US$129m)
Cereal preparations and biscuits (US$107m)
Prepared animal feed (US$95m)
Flour, starch, and groats (US$90m)
Processed and pickled olives (US$85m)
Frozen vegetables (US$85m)
Juices (US$85m)
Frozen potato ($83m)
Sugar, glucose, and lactose (US$79m)
Miscellaneous food preparations (US$70m)
Vegetable preparations (US$68m)
Fats and oils (US$58m)
“These figures reflect the diversity of our processed food sector export base, and ability to compete across multiple product categories. There is a wide range of products seen here, from processed and frozen products to food manufacturing inputs and value-added consumer goods,” he added.
“The fact that so many processed food products are generating so much value highlights the significant contribution of high-value export products to Egypt’s food industry export structure.”
Food exports key to Egypt’s international trade
As Egypt works to regain its footing economically, there is also strong focus on maintaining its international presence and trade in order to ensure sustainable growth, with exports an especially crucial component of this strategy.
“The growth in processed food exports during the first four months of 2026 is an important indicator of the sector’s improving export performance. This is indicative of higher product quality, increasing interest from export markets, and an increasing ability of Egyptian companies to meet the requirements of importers and global supply chains,” the council added.
“Our figures reflect the diversity of export destinations for Egyptian processed food products. There is not only a strong presence across Arab markets, but also growing demand from key markets such as the United States, China, and several European Union countries.”
According to the published data, Saudi Arabia was the leading destination for Egyptian processed food exports (US$213m, around 9% of total sector exports), followed by the US (US$160m, 7%), then Jordan (US$110m), Sudan (US$107m), Spain (US$103m), the Netherlands (USD 97m), Libya (US$93m), and Iraq (USD87m).
Other major growth markets that have shown rising potential are China (US$82m), Palestine (US$81), Italy (US$78m), the UAE (US$76m), Algeria (US$69m), the United Kingdom (US$61m), and Germany (USD56m).
As such, it is clear that processed food exports have a large and vital role to play in Egypt’s journey towards recovery, and reestablishing itself as a strategically attractive investment destination that can attract more well-established financial as well as food and beverage partners back into the market.
