Algeria: A Key Growth Market for U.S. Soy
Algeria, a North African country with population over 40 million people, is by far the largest soymeal import market in Africa and the 15th largest soymeal importer in the world. Currently, Algeria imports only a small amount of soymeal from the U.S. of the 1.5 million tons (55 million bushels) of soymeal they import annually. This is very likely to change in 2020, however, as Algeria’s first soybean crushing plant starts production. The planned capacity is estimated at 1 million tons crush per year or more than 35 million bushels. U.S. Soy is already extremely popular in North Africa with Egypt, Tunisia, and Morocco importing a combined 115 million bushels of U.S. soybeans and soy products annually and enjoys a small freight advantage to North African markets on the Mediterranean Sea. Adding the growth possibilities of Algeria to already strong U.S. soy export markets will make North Africa one of the global key growth areas for U.S. soybean farmers.
Recently, a group of Algerian feed industry executives sponsored by the U.S. Department of Agriculture (USDA) Cochran program visited St. Louis and the USSEC office. Brent Babb, USSEC Regional Director – Europe and Middle East North Africa (MENA), discussed the advantages of U.S. soybeans in quality, consistency, and sustainable production. USSEC is increasing its programs in Algeria to increase partnerships in the local crushing and feed industries and take advantage of strong growth opportunities.