Ukraine significantly increased soybean supplies to Egypt

This year, African countries reduced the volume of imports and processing of soybeans amid the shortage of foreign currency and depreciation of the national currency. This was reported by OilWorld (Germany).

Thus, for example, the oilseed supplies to Egypt decreased by more than half – from 4 mln tonnes to 1.5 mln tonnes. In particular, soybean imports to the region from the US dropped by 4.5 times to 769 thousand tons. At the same time, imports of Ukrainian beans, on the contrary, increased from 42 thsd tonnes to 586 thsd tonnes.

In addition, Algeria may import 1.2 mln tonnes in January-November of this year against 1.4 mln tonnes in 2022. The oilseeds supplies from the USA since the beginning of this year decreased to 201 thsd tonnes against 422 thsd tonnes, respectively, and from Brazil – to 790 thsd tonnes (921 thsd tonnes). At the same time, the imports of soybeans from Canada increased to 293 thsd tonnes (110 thsd tonnes).

“Both countries increased the purchases of soybean meal amid the decline in soybean imports,” the experts added.

Tags: Algeria, soybean, Canada, USA, Africa, imports, Ukraine, Egypt, Brazil