- Posted by Rafael Moro
Soyabean imports in Egypt are forecast to rise in in 2022/23 due to an increase in local crushing capacity, World Grain quoted from a US Department of Agriculture (USDA) report.
The country is expected to import 4M tonnes of soyabeans in 2022/23, according to the Foreign Agricultural Service (FAS) report, an increase of 400,000 tonnes compared to the previous year.
Egypt’s domestic crushing capacity in 2022/23 would reach about 12,121 tonnes/day, compared to 11,363 tonnes/day in 2021/22, the FAS report said, with the increase mainly due to newly established crushing facilities.
Soyabean crushing operations in Egypt are dominated by two companies with more than 80% of the total volume: SOYVEN and the Alex Seeds Co, according to the 12 April World Grain report.
Egypt imported 17.31M tonnes of soyabeans between 2016/17 and 2020/21, the report said, with the main suppliers including Argentina, Brazil, Paraguay, Ukraine, Uruguay and the USA.
US-origin soyabean exports to Egypt have risen dramatically in that time, according to the report, accounting for 72% of the country’s total soyabeans imports.
Between October 2021/January 2022, Egypt imported a total of 1.81M tonnes of soyabeans.
Source: Oils & Fats Internacional (OFI)