U.S. Corn Sales to Egypt Still Surging

In the past marketing year, that ended Aug. 31, U.S. corn exports to Egypt rebounded to 2.6 million metric tons (102.4 million bushels), a pace that does not appear to be slowing.

In the past marketing year that ended Aug. 31, U.S. corn exports to Egypt rebounded to 2.6 million metric tons (102.4 million bushels), a pace that does not appear to be slowing with 270,600 tons (10.7 million bushels) of U.S. corn already imported into the country in the new marketing year, as of Oct. 2. This is made all the more remarkable by the fact that in the 2012/2013 marketing year, Egypt imported no U.S. corn.

“It is easy to say the United States has returned as one of their major suppliers of corn to Egypt,” said U.S. Grains Council Regional Director of the Middle East and Africa Cary Sifferath. “While Brazil, Argentina, Ukraine and other Black Sea origin corn still went to Egypt during the 2013/2014 marketing year, having U.S. market share go from zero to roughly 45 percent in one year is a major move.” 

U.S. corn has been arriving in Egypt regularly each month in the 2014 calendar year, with no Ukrainian corn or other Black Sea origin corn coming in during the summer months. However, Black Sea origin corn did come in September, with more expected this month and next as new crop Ukrainian corn becomes ready for export.    

“Egypt imported 6.177 million tons (243 million bushels) of corn from all destinations during the first nine months of 2014 and is now experiencing a surplus of corn in the country,” Sifferath said. “However, Egypt should still easily import 6.9 to 7.2 million tons (272 to 283 million bushels) of corn in 2014.”

That would be an increase from 6 million tons (236 million bushels) in 2013 and 5.8 million tons (228 million bushels) in 2012.

“This means in Egypt, demand for corn is not falling, but rather growing during the past two years after a down year in 2012,” Sifferath said.   

The Council will work to carry this momentum into the 2014/2015 marketing year as a record U.S. corn crop is harvested.