Supply/Demand Basics

  • 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.

Country Overview

  • 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.

Policy Overview

  • 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.