Corn Prices Fall Below Replacement Levels As Stocks Pile Up

Corn imports in Egypt have slowed significantly due to an ongoing oversupply and rising inflation, which have weakened consumer demand. According to traders, Egypt currently holds around 1,500,000–1,600,000 tonnes of corn—well above the country’s short-term consumption needs.

For the past five months, Egypt has consistently imported about 1,000,000 tonnes of corn per month in preparation for Ramadan (Feb 28–Mar 29). However, feed mill purchases have not kept pace, leaving large volumes unsold. One Cairo-based trader noted that consumers and importers have suffered losses over the past two months, discouraging further buying.

Domestic Prices Lag Behind Global Offers

In the local market, corn is trading USD 0,008–0,010 per kg below replacement cost. This pricing gap has led to substantial losses for importers who purchased corn at international rates but are forced to sell at lower local prices. Ukrainian corn was quoted at USD 0,240/kg, while South American corn traded at USD 0,250/kg in late February 2025.

Recent CIF offers for corn to Egypt were reported at USD 0,256/kg on March 26. In comparison, Ukraine corn (FOB POC) was assessed at USD 0,238/kg for April-May shipment, and Brazilian corn (FOB Santos) was at USD 0,211/kg for August loading.

Egypt Corn Market Snapshot

Traders Expect Calm Until Stocks Deplete

With ample stocks and weaker purchasing power, buyers are hesitant to secure large quantities beyond April. Some traders expect a mild recovery in demand after Ramadan as the poultry sector gears up, but unless existing inventories are cleared, the spot market in Egypt will likely remain subdued.