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Egypt reversed the widely criticized mandate by the Central Bank of Egypt for importers to utilize a process where letters of credit would substitute the long-established cash-against-documents process.

Post forecasts Egyptian soybean imports to fall in 2013/14, with a decrease in soybean meal consumption due to lingering animal health concerns in the domestic poultry industry and high feed prices.

Post expects a 33 percent drop in Egypt's sugar imports in 2012/13 due to high stocks, temporary anti-dumping measures and strong domestic production. Imports should rebound in MY 2013/14.