U.S. Grains Council Trying to Regain Market Share in Egypt
The U.S. Grains Council is working to regain market share in Egypt.
The new two-prong strategy focuses on U.S. corn performance in the starch sector and improving local storage conditions.
Egypt is the largest importer of corn in North Africa, bringing in 10 million tons (303 million bushels) annually.
However, U.S. corn exports to Egypt have suffered in recent years from strong competition from the Black Sea and South American imports.
In the 2018-2019 marketing year, Egypt was the ninth-largest U.S. corn market and the leading importer of U.S. corn co-products in the Middle East region.
The USGC is focused on improving the image of U.S. corn after it arrives in Egypt through two programs.
The first focuses on highlighting the superior performance of U.S. corn in the industrial starch sector, and another focusing on improving existing storage constraints.
The Council recently signed a memorandum of understanding with the largest corn importer in Egypt to improve storage conditions for grain destined for the Egyptian feed and wet-milling industries, with an additional objective of stemming negative effects on downstream industries.
USGC is also focusing not only on building a short-term market but also long-term Egyptian trust in food security through trade.
(Story Courtesy of the NAFB News Service)