March 29, 2023

Egypt releases a further 199,000 tonnes of corn and soy fodder from ports

El-Sayed El-Qusair, Egypt's Minister of Agriculture and Land Reclamation, said about 199,000 tonnes of corn and soy fodder worth US$96.4 million were released from Egyptian ports between March 17 to 23, to ease pressure on the country's poultry market, Ahram Online reported.

These included 139,000 tonnes of corn valued at US$$50 million, 60,000 tonnes of soybean worth US$45 million, and feed additives worth US$1.4 million.

The Egyptian government has been working together with the Central Bank of Egypt, the to ensure the release of production inputs and fodder from Egyptian ports.

Egypt released 476,000 tonnes of corn and soy feed worth US$223 million between February 24 and March 23.

As a result, 3.388 million tonnes of fodder, including 2.426 million tonnes of corn, 962,000 tonnes of soybeans, and feed additives with a total value of US$1.671 billion, were released between October 16, 2022 and March 23, 2023.

The cost of eggs and poultry in Egypt has increased significantly in recent months due to feed supplies stuck at ports over curbs applied on import finance due to a hard currency crunch.

Egypt has also announced increasing frozen chicken imports to meet rising demand during Ramadan.

-      Ahram Online