Egypt: Oilseeds and Products Annual
Egypt’s soybean imports in marketing year (MY) 2018/19 are forecast at 2.8 million metric tons (MMT), up 400,000 MT from the MY 2017/18 estimate of 2.4 MMT. The increase in imports is due to expanded local crushing capacity. Local industry aims to produce affordable, high-quality blended oil in addition to high-protein soybean meal for the feed industry. In calendar year 2017, the United States was Egypt’s largest supplier of soybeans with 1.1 MMT. Soybean meal consumption in MY 2018/19 at 3.1 MMT is up 6.9 percent from MY 2017/18 estimate of 2.9 MMT. Soybean oil consumption is forecast at 780,000 MT in MY 2018/19, up 2.6 percent from our MY 2017/18 estimate of 760,000 MT. Soybean, sunflower, and palm oil consumption for food and industrial use in MY 2018/19 is forecast at 2.29 MMT, up 1.7 percent compared to MY 2017/18’s volume of 2.25 MMT. Imports of palm oil in MY 2018/19 at 980,000 MT are up 8.8 percent from the MY 2017/18 estimate. The increase is due to the food processing sector’s nine percent growth.
Egypt: Oilseeds and Products Annual