November 7, 2023

Egypt releases 121,000 tonnes of animal feed supplies during October 20-26, minister says

Egypt's Minister of Agriculture and Land Reclamation, Elsayed Elkosayer, announced that the release of animal feed supplies, such as corn and soybeans, will continue in coordination with the Central Bank of Egypt (CBE).

He added that during October 20-26 , 121,000 tonnes of these supplies, worth $60 million, were released from ports.

According to Elkosayer, the release consisted of 88,000 tonnes of corn for US$31.6 million and 33,000 tonnes of soybeans for $24.5 million, as well as fodder additives for $3.6 million. The total amount released from October 16, 2022, to October 26, 2023, reached 8.4 million tonnes, valued at $4.1 billion.

Elkosayer explained that the release aims to ensure the availability of corn and soybeans in the markets, which are essential for poultry and livestock feed production. He urged poultry project owners to lower their prices and join the government's initiative in this regard.

The minister also stated that he is monitoring the situation closely and coordinating with the Central Bank, with the support of Egypt's Prime Minister, to release adequate quantities of corn, soybeans, feed ingredients and additives from Egyptian ports to sustain the industry.

- Daily News Egypt