Tuesday 22 May 2018

Egypt’s Ecard to revive contractual agri project

CAIRO, August 21, 2017

The Egyptian Company for Agricultural and Rural Development (Ecard) plans to revive the contractual agriculture project in cooperation with the Ministry of Agriculture and the Egyptian Poultry Producers Union, a top official said.

The plan will start with cultivating yellow maize in the governorates of Upper Egypt as their weather suits these crops without a need for driers, Sayed El Kosayer, chairman of the Principal Bank for Development and Agricultural credit (PBDAC) to which Ecard is affiliated, was quoted as saying by Daily News Egypt.

 Afterwards, the crops will be cultivated across the govenrorates of lower Egypt after building driers in them, he added.

In an exclusive statement to Daily News Egypt, Elkosayer said that starting with yellow maize will lead to supplying Egypt with the amounts that would otherwise be imported, which would be worth $1.6 billion, noting that the Ecard will purchase the crop from farmers and supply it to poultry producers.

“The agricultural bank of Egypt is currently developing a work strategy for the Ecard, considering it the bank’s commercial arm, which plays a strong role in supporting Egyptian farmers and providing them with the necessary tools,” Elkosayer said.

Tags: Egypt | agriculture |

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