Egypt: Oilseeds and Products Annual
Soybean imports are expected to reach 2.42 million metric tons (MMT), reflecting additional crush capacity, as well as strong soybean meal and oil demand. In the first quarter of 2016, ambrosia presence in imported soybeans has led to a handful of vessels being required to screen their cargoes in port or to outright rejections of these vessels, as the Ministry of Agriculture’s quarantine office continues to categorize this weed seed as a toxin. Post forecasts an increase in total soybean meal consumption of 4.4 percent in MY 2016/17, driven by the growing poultry, livestock and aquaculture sectors. Total oil consumption including food and industrial use is expected to grow by 2.96 percent in MY 2016/17, due to the addition of 3 million beneficiaries to the domestic food subsidy program and a food processing sector that is growing by more than 12 percent. Palm oil imports are expected to amount to approximately 65 percent of total oil imports on higher demand by the food processing sector and competitive pricing during MY 2016/17.
