Elsayed Elkosayer, Minister of Agriculture and Land Reclamation, has said that in just one week, 292,000 tonnes of corn and soybeans were released from customs, at a value of $135m, in coordination with the Central Bank.
According to a statement by the Ministry of Agriculture, the release included about 242,000 tonnes of corn, at a value of $87m, and about 55,000 tonnes of soybeans, at a value of $42m, as well as feed additives worth about $6m.
It clarified that the total released feed supplies, during the period from 16 October 2022 to 19 January 2023, amounted to 2.156 million tonnes, including 1.538 million tonnes of corn, 623,000 tonnes of soybeans, and feed additives, with a total value of $1.063bn.
Elkosayer stressed that the release of feed requirements aims to provide quantities of corn and soy in the market, which are the basic ingredients for poultry feed as well as farm animals, indicating that these successive large releases will have a positive impact on the decline in the prices of eggs and poultry and the stability of the markets.
