Egypt: Oilseeds and Products Annual

Egyptian traders and crushers continue to demand sustainability and quality of supply, both of which are key features of U.S.-origin soybean. This demand produced another record year for U.S.-origin soybean exports to Egypt with 4.07 MMT in exports, was by far Egypt’s largest supplier of soybeans in marketing year 2021/22. However, the repercussions of the war between Russia and Ukraine drove prices of commodities such as oilseeds to spike. In Egypt, the effects of the war have also extended to influence availability of hard currency needed for the release of soybean shipments from ports that are needed by the feed industry. Post estimates soybean imports during the current marketing year to significantly decline. Egypt’s Production and area harvested of soybeans and sunflower are likely to increase in MY 2023/24 in response to high prices. Palm oil imports in MY 2023/24 is likely to remain as the previous marketing year.

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