- Largest corn market in the region, with 9.8 MMT of imports in 2019.
- Nearly 6.4 MMT of corn produced domestically in 2018—mostly white corn.
- #1 import market for U.S. CGM with 109 TMT of imports in the 2018/2019 marketing year; U.S. DDGS were 80 TMT and U.S. CGF was 15 TMT.
- Price-sensitive market; quality is less important than price.
- U.S. freight at a disadvantage to Black Sea export markets.
- Population / growth: 101.2 million / 1.8%
- Urban % / growth: 47.2% / 1.86%
- GDP / growth (PPP): $236.5 billion / 4.2%
- GDP per capita (PPP): $12,700
- Real GDP grew by 5.4% in 2018, compared to 4.2% in the previous year. The increase was driven by public and private investments and private consumption.
- Economic activity is still primarily driven by state-led projects.
- Exports of goods and services have contributed positively to economic activity, as oil and non-oil merchandise exports, the Suez Canal and tourism continue to rebound.
Trade and Market Share Overview
- U.S. corn market share is 5%–4th place in 2019 behind Argentina, Ukraine and Brazil.
- Poultry sector leads corn demand by nearly 60-70% consumption followed by dairy, red meat, water buffalo, corn milling/crushing and aquaculture.
- Egypt is ranked in the top 10 in terms of global aquaculture production. Already a global leader in Tilapia farming, the country’s aquaculture production in 2018 was roughly 1.44 MMT.
- Corn and soybeans have zero duty, while soybean meal, DDGS and CGM are subject to a 5% import duty.
- The average total annual consumption of corn (in all forms) in Egypt, reached nearly 16 MMT. Approximately 40% of consumed corn is locally produced and the other 60% is imported.