Egypt: Poultry Sector In Egypt Impacted by the Repercussions of War in Ukraine

Russia’s invasion of Ukraine has adversely impacted the global economy, and Egypt too has felt the wave of effects. Russia’s war on Ukraine has relentlessly disrupted international trade of grains and soybeans as well as other commodities pounding a global economy that had since been improving robustly from the COVID-19 pandemic. Already high prices of corn and soybeans have risen even higher as a result. The impacts of the war have also extended to influence availability of Forex needed for the release of corn, corn bi-products and soybeans shipments, estimated at 1.5 MMT (corn) and 400,000 MT (soybeans), stuck for many weeks in Egyptian ports, causing feed prices to skyrocket. Egypt has begun acting to reduce the severity of those negative repercussions and seeks to provide hard currency in accordance with the jurisprudence of priorities, especially regarding providing food, fuel, and raw materials for production requirements.