Egypt’s soybean imports in 2022/23 are expected to increase by 11% year-on-year

Washington, April 13 News: A report released by the U.S. Agricultural Counselor shows that Egypt’s soybean imports in 2022/23 (October to September) will reach 4 million tons, an increase of 11% from 3.6 million tons in 2021/22. , because of the expansion of crushing capacity.

Between 2016/17 and 2020/21, U.S. soybean exports to Egypt increased substantially and now account for 72.2 percent of Egypt’s total imports. Other major exporters include Argentina, Ukraine, Uruguay, Brazil and Paraguay.

Between October 2021 and January 2022, Egypt has imported about 1.81 million tons of soybeans, of which 90% came from the United States, an increase of about 18% from the 1.54 million tons in the same period last year, when the proportion of soybeans in the United States was 89.6%.

Egypt’s soybean production in 2022/23 is likely to rise to 34,000 tonnes from 9,000 tonnes this season, mainly due to increased harvested area.