Egypt Corn Imports Continue Rising Regardless of Production
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According to USDA data, Egypt Corn production remained relatively stable between 18 & 21, except for 19. Meanwhile, Egypt Corn imports have continued increasing since 18. Indeed, imports rose by 197 kmt YoY in 19 and surged 1.9 Mmt YoY in 20. Nonetheless, the uptrend slowed down in 21, increasing imports only by 1 Mmt YoY, perhaps due to Egypt’s stock reaching its limits. In 22, USDA expects Egypt Corn production to ramp up by 1.04 Mmt. However, Egypt Corn’s current import pace is much slower than in 21, decreasing by 2.1 Mmt YoY as of Aug 17th. Despite a more significant domestic production than in previous years, Egypt will likely need to ramp up imports in H2 22 to meet the demand.
Figure : Egypt Corn Yearly Production & Imports Between 2018 & 2022
Track Corn Monthly Import Volumes & Individual Cargos to Egypt Since 2017
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