Egypt will increase its own processing and will reduce the import of soybean oil

According to experts Oil World Egypt continues to increase its own production of soybean oil and reduce its imports. So, in 2019/20 MG production of soybean oil will reach 653 thousand tons compared to 634 thousand tonnes in 2018/19 Mr and 468 thousand tonnes in 2017/18 MG. Simultaneously, its imports will be reduced from 235 THD. MT in 2018/19 MG to 180 of its t in 2019/20 Mr.

this season, Egypt will intensify the procurement of sunflower, the import of which can reach 110 thousand tons compared to 100 tons in 2018/19 MG and 90 thousand tons in 2017/18 MG. In addition, the import of sunflower oil will increase by 18% to 530 thousand tons, compared with 448 thousand tons in 2018/19 Mr and 545 THD. MT in 2017/18 MG, and sunflower meal – by 32.5% to 110 thousand tonnes compared to 83 THD. MT in 2018/19 Mr and 139 thousand tonnes in 2017/18 MG.

Russia Q1 2019/20 Mr significantly increased the exports of sunflower oil in Egypt in comparison with the same period last year – from 40 to 56 thousand tons and just 2018/19 Mr sold in this direction 254,3 thousand tons of sunflower oil.

Ukraine for the first 3 months of the current season have reduced the exports of sunflower oil in Egypt in comparison with the same period in 2018/19 MG 93% from 39 to 2.6 thousand tons, and just 2018/19 MG exported back 59.5 million tons of sunflower oil.

Experts believe that Naiin the near future will continue the trend of increasing importers of raw materials, not finished products, to increase their own processing. This will increase competition in the markets of vegetable oils, especially soy, as Brazil, which is the main supplier of soybeans to the world market, will increase the refining capacity is not as fast as Argentina. The main producers of sunflower oil – Ukraine and Russia alone processed almost all harvested sunflower.