The report forecast soybean imports to reach 3.1 million metric tonnes (MMT), while edible soybean consumption is expected at 3.2 MMT in MY 2017/18, up 6.6% from the current marketing year. Soybean consumption in MY 2017/18 will stand at a record 3.14 million metric tonnes (MMT), up 40.1% from forecasts of 2.24 MMT for MY 2016/17. The increase in area and local production is due to greater food consumption in urban areas. Currently Egypt has around 180 poultry feed mills, producing various types of feed for the poultry industry and supplying more than 95% of the domestic market’s demand. The inflated price of feed and its components in the domestic market drove soybean food consumption down by 6.6% in MY 2016/17.

Source: Daily News Egypt May 15, 2017 08:37 UTC