Tetra Pack sales down 25% y-o-y as a result of 40% drop in overall food industry sales

Tetra Pak’s sales in Egypt this year are down 25% compared to last due to a 40% decline in overall sales from the food production sector, the packaging company’s Egypt Managing Director Konstantin Kolesnik tells Al Borsa. Kolesnik attributed the decline to the drop in consumer purchasing power as a result of inflation, which he says has also caused many producers to delay expansion plans.