Minister of Agriculture and Land Reclamation El-Sayed El-Kosayer announced on Monday that 183,000 tonnes of corn and soybeans worth about $94m were released from 23 to 27 October in coordination with the Central Bank of Egypt (CBE).
A statement by the ministry said that this comes in implementation of the directives of the political leadership and in the context of following up on the results of the meeting held by Prime Minister Mostafa Madbouly with all parties concerned with poultry.
El-Kosayer added that the release included 122,000 tonnes of corn at a value of $44.9m and about 61,000 tonnes of soybeans at a value of $42.8m as well as feed additives at about $8m.
The minister also confirmed that the measure aims to provide quantities of corn and soybeans in the market, which are the main ingredients for poultry feed as well as other farm animals.
Furthermore, El-Kosayer appealed to importers to sell at acceptable prices, indicating that this surge in supply should decrease the prices.
He explained that there is continuous follow-up and complete coordination with the CBE and the Poultry Federation for the periodic release of corn, soybeans, raw materials, and feed additives from Egyptian ports.
