Egypt cuts corn imports by 35% as Ukrainian shipments come to a complete halt

In October 2026, Egypt imported 777.3 thsd tons of corn, down 35% from September and 42.2% compared with the same month last year. According to LATT Trading & Shipping, purchases declined amid sufficient domestic stocks, currency volatility and weak demand from importers. Brazil remained the leading supplier, accounting for more than 96% of total shipments.

Brazilian corn exports to Egypt totaled 746.2 thsd tons in October, compared with nearly 1.2 mln tons in September, a decline of 37.7%. Shipments from Brazil were also down 36% year on year. Argentina supplied just one cargo of 30.6 thsd tons, compared with 141 thsd tons in October 2025.

Meanwhile, Ukrainian corn was completely absent from Egypt’s October imports due to logistics restrictions in the Black Sea. Egyptian buyers traditionally begin actively importing Ukraine’s new-crop corn between October and December, but shipments have not resumed this season. By comparison, Ukraine exported 25.4 thsd tons of corn to Egypt in October 2025.

High domestic inventories and unfavorable import economics also contributed to the decline in purchases. According to Egyptian importers, existing corn stocks are sufficient to cover approximately 1.5 months of consumption. Meanwhile, corn on the domestic market is around $10/t cheaper than new import shipments, reducing buyers’ interest in overseas purchases. Fluctuations in the Egyptian pound are also discouraging new contracts.

Market participants expect corn imports to decline further in November. Preliminary estimates suggest that Brazilian shipments could fall to 450 thsd tons. Meanwhile, international prices continue to weaken: Platts-assessed Ukrainian corn averaged $220.81/t in October, down from $224.40/t in September, while Brazilian corn averaged $223.82/t against $240.49/t and Argentine corn $216.70/t against $226.10/t. Future Egyptian import volumes will depend on domestic demand, currency developments and the potential resumption of Ukrainian corn shipments.

Tags: Ukraine, Egypt, corn, imports