Egypt released corn, soy fodder worth $97 mln last week

The released amounts include 162,000 tons of corn worth around $59 million and about 47,000 tons of soybeans worth around $35 million.

Additionally, around $3 million worth of feed additives were included in the release.

The released amount was 31.25 percent higher than the amount released the preceding week, which totalled 160,000 tons.

Between 16 October 2022 and 6 April 2023, the total amount of fodder released from ports has reached 3.756 million tons worth $1.85 billion.

The release of fodder is being coordinated by the Ministry of Agriculture and the Central Bank of Egypt (CBE) in order to reduce production costs in the country’s poultry industry.

The industry has been negatively affected by foreign currency shortages and the devaluation of the Egyptian pound, all of which caused crucial inputs like fodder to accumulate in ports.