Egypt: Grain and Feed Annual
MY 2017/18 wheat imports are forecast at 11.5 million metric tons (MMT). MY 2016/17 wheat imports are being revised downward to 11.0 MMT, 7.2 percent lower than USDA’s official forecast of 11.8 MMT. The decrease is due to foreign exchange (FOREX) challenges that importers faced before the Egyptian Pound was floated in November 2016. After the devaluation, imports have slowed down. Post forecasts MY 2017/18 corn imports at 8.6 MMT. Post is also revising MY2016/17 corn imports to 8.6 MMT from USDA’s estimate of 9.0 MMT for the same reasons. FAS Cairo expects the government will newly permit rice exports by year’s end, which could result in MY 2017/18 shipments of up to 300 TMT of milled rice and 150 TMT of broken rice exports.
Egypt: Grain and Feed Annual
