In Egypt, soybeans are one of the main products used in animal feed along with maize. With the many investments made in the industry, imports of the raw material are reaching record levels.
In Egypt, soybean imports are expected at 4.75 million tonnes in 2021/2022, the second highest level after the record of 4.89 million tonnes achieved in 2019/2020. This is what the United States Department of Agriculture (USDA) reported in its latest report on the global oilseed market.
This dynamism of purchases from the land of the Pharaohs will be driven mainly by the raw material processing industry, which consumes more than 98% of imported soybeans. During the said campaign, the crushing segment should thus show a demand of more than 4.7 million tonnes with the increase in capacity to meet the growing needs for protein meals used in particular in animal feed and oil production. refined.
According to observers, this appetite for Egypt will continue to be satisfied by the US. Uncle Sam’s country is expected to supply more than 70% of the imported volume due to the preference of local grinders for American soybeans which have a higher content of protein and premium oil.
Egypt is the largest consumer of soybeans in Africa and the 5th largest importer of the raw material in the world after China, the EU, Mexico and Argentina. In addition, the Egyptian crushing industry is the 8th largest in the world with 4 million tonnes of raw materials processed in 2020/2021