{"id":701498,"date":"2026-05-12T00:00:00","date_gmt":"2026-05-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=701498"},"modified":"2026-05-12T02:52:43","modified_gmt":"2026-05-12T02:52:43","slug":"local-fertilizer-firms-to-supply-india-with-350k-tons","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/12\/local-fertilizer-firms-to-supply-india-with-350k-tons\/","title":{"rendered":"Local fertilizer firms to supply India with 350k tons"},"content":{"rendered":"

Good morning, lovely people, and welcome to a reform-stacked issue. <\/strong>We have word the government has submitted its updated reform package to the IMF ahead of the mission landing on 15 June for the combined seventh and eighth reviews. The question the IMF will likely be looking to answer is whether the reforms will hold once they exit stage left.
<\/strong><\/p>\n

The CBE\u2019s 1Q Monetary Policy Report gives part of the answer. Single-digit inflation has been pushed to 2H 2027<\/strong>, the Bank says, and a notable rewrite of what was supposed to be Egypt\u2019s clean exit narrative. <\/p>\n

In other news this morning: <\/strong>We spoke with Pharco's Sherine Helmy on how the pharma giant is navigating the mandatory pricing squeeze, and we introduce the four incoming assistant ministers at the Investment Ministry.<\/p>\n

CORRECTION- <\/strong>In yesterday\u2019s story<\/a> on the National Bank of Egypt (NBE) acquiring a 20% stake in Scatec\u2019s Obelisk solar project, we wrote Matouk Bassiouny & Hennawy (MBH) advised Scatec on the transaction based on an initial press release from the firm. Our friends at MBH have since shared an updated statement (pdf)<\/a> to clarify that they acted as counsel to the NBE on the transaction. We have updated the story on our website to reflect the change.<\/p>\n

***<\/strong><\/p>\n

THANK YOU to everyone who filled out our first <\/strong>listener survey<\/a><\/strong>.<\/strong> If you\u2019re seeing this for the first time, Morning Drive has been up and running for a while now, and we think it\u2019s time for a quick check-in. So if you have a few minutes to spare, we\u2019d love to hear from you, whether you\u2019re a longtime listener, you\u2019ve only just heard us, or you\u2019re somewhere in between. AND \u2014 here\u2019s today\u2019s episode<\/a>.***<\/p>\n

Harvesting Indian demand<\/p>\n

<\/a> Egypt's fertilizer producers are filling the gaps of the global <\/strong>supply chain<\/strong>, securing a 15% slice of an international tender to supply India with 2.5 mn tons of nitrogen fertilizers this June, Arabic press<\/a> reports, citing unnamed traders and manufacturers. <\/p>\n

The champions:<\/strong> Local tenders secured contracts to deliver between 300k and 350k tons to the South Asian giant, with Abu Qir Fertilizers, Mopco, and Egyptian Fertilizers Company scooping up the lion's share of 240k tons and Helwan Fertilizers, Alexandria Fertilizers, and Kima splitting the remaining 100k tons. But the factories have to meet local demand first, delivering their monthly quota of up to 220k tons before sending shipments to India.<\/p>\n

Why it matters:<\/strong> With the Strait of Hormuz effectively closed and traditional Gulf suppliers halting shipments, India is turning to Egypt. This surging demand allows local firms to command massive premiums, locking in tender prices between USD 850 and USD 880 per ton<\/a> \u2014 nearly double the pre-crisis average.<\/p>\n

IN NUMBERS-<\/strong> The country produces<\/a> roughly 12 mn tons of fertilizer annually, accounting for over 4% of global production. 8mn tons of that is nitrogen-based fertilizers, making Egypt the seventh-largest urea producer in the world.<\/p>\n

Somali piracy strikes again<\/p>\n

<\/a> Eight Egyptian sailors have been kidnapped after the oil tanker <\/strong>M\/T Eureka was<\/strong> hijacked yesterday off Yemeni shores and taken to Somali waters. <\/strong>Foreign Minister Badr Abdelaty has directed<\/a> the Egyptian Embassy in Mogadishu to coordinate with Somali authorities to ensure the release of the crew.<\/p>\n

\n

PSA- <\/p>\n

WEATHER- <\/strong>We hope you\u2019re staying cool as temperatures approach 40\u00b0C in Cairo today. Expect a high of 39\u00b0C and a low of 19\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s enviously much nicer in Alexandria<\/strong>, with a high of 26\u00b0C and a low of 17\u00b0C.<\/p>\n

\n

\n

<\/a> <\/p>\n

Riyadh to Mumbai. Abu Dhabi to Singapore. Dubai to London. Cairo to Shenzhen.<\/strong><\/p>\n

The most important business stories in MENA aren\u2019t happening inside MENA anymore<\/strong> \u2014 they\u2019re happening at the edges, where regional capital meets global ambition.<\/p>\n

EnterpriseAM MENA+ is our new flagship newsletter<\/strong>, built to cover the flows of capital, people, and ideas across the Middle East \u2014 and beyond it. AI, geopolitics, the war for talent, sovereign wealth strategy, the changing energy economy, and the new corridors reshaping global trade.<\/p>\n

Tap or click here to get your own copy<\/a><\/strong> delivered to your inbox every Monday, Wednesday, and Friday at 12pm UAE | 11am KSA | 11am Egypt.<\/p>\n

\n

\n

The big story abroad <\/p>\n

News outlets <\/strong>are following the ups-and-downs of the regional conflict<\/strong>, the latest of which is President Donald Trump\u2019s characterization<\/a> of the ceasefire as \u201con massive life support.\u201d Trump called Tehran\u2019s counterproposal to end the monthslong war as \u201cunacceptable,\u201d with the major sticking point being Iran\u2019s stockpile of enriched uranium.<\/p>\n

Washington <\/strong>has <\/strong>released 53.3 mn barrels<\/a><\/strong> of crude from its reserves <\/strong>to steady oil markets in light of the Iran war, loaning out the supply to nine companies, including ExxonMobil, Trafigura, and Marathon. <\/p>\n

One step closer to Warsh\u2019s Fed: <\/strong>Trump\u2019s pick for Fed chair, Kevin Warsh, is one step closer<\/a> to securing the position, following yesterday\u2019s so-called cloture vote by the Senate. Outgoing chief Jerome \u200cPowell\u2019s term ends on Friday.<\/p>\n

Meanwhile, in the entertainment business: <\/strong>Sony Music Group acquired the rights to more than 45k songs from alternative asset manager Blackstone under an almost USD 4 bn agreement<\/a>. The catalogue includes iconic tracks by Journey, Leonard Cohen, and others.<\/p>\n

<\/p>\n

*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> EnterpriseAM\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n

In today\u2019s issue: <\/strong>We\u2019re exploring how Egypt\u2019s potential as a global green hydrogen hub is hindered by high financing costs, insufficient infrastructure, and a significant cost-competitiveness gap \u2014 and what to do to fix it.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, lovely people, and welcome to a reform-stacked issue. We have word the government has submitted its updated reform package to the IMF ahead of the mission landing on 15 June for the combined seventh and eighth reviews. The question the IMF will likely be looking to answer is whether the reforms will hold […]<\/p>\n","protected":false},"author":1,"featured_media":701499,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12573],"tags":[72,65,131,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-701498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today-10","tag-enterpriseam","tag-investment","tag-manufacturing","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"b0882f7b-1f74-429e-8db9-7545eeb80ea1","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2026\/5\/605.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Local fertilizer firms step in to fill India\u2019s fertilizer gap","related_issue":[701496],"teaser":""},"yoast_head":"\nLocal fertilizer firms to supply India with 350k tons - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/12\/local-fertilizer-firms-to-supply-india-with-350k-tons\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Local fertilizer firms to supply India with 350k tons\" \/>\n<meta property=\"og:description\" content=\"Good morning, lovely people, and welcome to a reform-stacked issue. 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Concerns over our progress in selling assets, including stakes in United Bank and Vodafone Egypt, coupled with fears of devaluation have pushed Egypt\u2019s debt back into distressed territory, Bloomberg reports. \u201cThe market feels\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/Grocery-Shopping-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569068,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/12\/egypts-post-loan-imf-structural-reform-agreement-will-tackle-bureaucracy-says-amer\/","url_meta":{"origin":701498,"position":1},"title":"Egypt\u2019s post-loan IMF structural reform agreement will tackle bureaucracy, says Amer","author":"enterpriseam admin","date":"12 February 2020","format":false,"excerpt":"Egypt\u2019s post-loan IMF structural reform agreement will tackle bureaucracy, says Amer: Egypt is still in talks with the IMF over a post-loan structural reform agreement, which could focus on eliminating bureaucracy to clear a significant hurdle in attracting private sector investment, Central Bank of Egypt (CBE) Governor Tarek Amer said\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/165.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597541,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/30\/bofa-sees-mildly-more-flexible-usd-egp-rate-on-the-horizon-for-egypt\/","url_meta":{"origin":701498,"position":2},"title":"BofA sees \u201cmildly more flexible\u201d USD \/ EGP rate on the horizon for Egypt","author":"enterpriseam admin","date":"30 July 2019","format":false,"excerpt":"BofA sees \u201cmildly more flexible\u201d USD \/ EGP rate on the horizon: The USD \/ EGP rate could be \u201cmildly more flexible\u201d over the coming period as Egypt\u2019s FX reserves are high and our carry trade remains \u201chigh enough,\u201d Bank of America Merrill Lynch said in a report out this\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548923,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/28\/now-is-the-time-to-invest-in-the-egx-says-tellimer\/","url_meta":{"origin":701498,"position":3},"title":"Now is the time to invest in the EGX, says Tellimer","author":"enterpriseam admin","date":"28 August 2022","format":false,"excerpt":"EGX-listed stocks are trading at a 50% discount to their recent five-year average, creating a good buy for investors, Hasnain Malik, head of equity research at Tellimer, tells Bloomberg (watch, runtime: 6:13). Undervalued EGX stocks represent a good \u201cshort-term trade\u201d as the expected IMF loan, Gulf support, and a potential\u2026","rel":"","context":"In "Capital markets"","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598213,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/19\/egypt-imf-reach-staff-level-agreement-to-unlock-final-tranche-of-usd-12-bn-facility\/","url_meta":{"origin":701498,"position":4},"title":"Egypt, IMF reach staff-level agreement to unlock final tranche of USD 12 bn facility","author":"enterpriseam admin","date":"19 May 2019","format":false,"excerpt":"Egypt, IMF reach staff-level agreement to unlock final tranche of USD 12 bn facility: Egypt has reached a staff-level agreement with the IMF over the disbursement of the sixth and final USD 2 bn tranche of its USD 12 bn extended fund facility, according to a statement issued by the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593858,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/13\/imf-out-with-final-review-of-egypts-reform-program\/","url_meta":{"origin":701498,"position":5},"title":"IMF out with final review of Egypt\u2019s reform program","author":"enterpriseam admin","date":"13 October 2019","format":false,"excerpt":"IMF out with final review of Egypt\u2019s reform program: The International Monetary Finance (IMF) released on Friday its fifth and final policy review of Egypt\u2019s economic reform program, which was conducted last July ahead of disbursing the final USD 2 bn tranche of the institution\u2019s USD 12 bn facility to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/153.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/701498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=701498"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/701498\/revisions"}],"predecessor-version":[{"id":701536,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/701498\/revisions\/701536"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/701496"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/701499"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=701498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=701498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=701498"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=701498"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=701498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}