Dairy is a basic protein source for Egyptians due to its cheap prices compared to other animal protein sources.
Tetra Pak statistics revealed that Egyptians consume more than 60 tons of dairy annually. However, the impact of reforms on the purchasing power affected the outcomes of firms.
Mohammed Al-Damati, a member of the Chamber of Food Industries, told Asharq Al-Awsat that the local market has recovered currently from the fallout of the instability in the past years.
He hoped that the purchasing power of consumers in Egypt will not be affected by the government's economic reforms, revealing that conditions had started to improve since September.
Damati noted that Arab markets come first place in terms of total exports, specifying that Libya ranks first among them in dairy exports, followed by Jordan then Saudi Arabia.
Juhayna Food Industries profits in the third quarter of 2018 reached EGP111 million (USD6.2 million), a rise of 33 percent compared to the same period last year.
This result was supported by the growth of revenues and the continuity of efficiently recruiting operating costs and reducing indebtedness.
