In 2015, Egypt’s aquaculture industry produced 1.3 million metric tons (MMT) of fish, consuming approximately 1 million tons of soybean meal. As the industry grows, the Egyptian economy faces new challenges.
In November 2016, the Egyptian pound, which was traditionally pegged to the U.S. dollar, was floated; that move has reduced the value of the pound by almost 50 percent, impacting the price of ingredients for the aqua industry and, consequently, the price of aqua feed.
To assist the Egyptian aqua industry, USSEC consultant Tim O’Keefe of Aqua-Food Technologies, traveled to Egypt to meet with top aquafeed producers to provide insights on least cost formulations as a means to control the soaring prices of feed.
USSEC Aquaculture Contractor – Egypt Salah Taher accompanied Mr. O’Keefe during his visit. The two met with representatives from Skretting, Aller Aqua, Cairo Poultry Group, and Koudjis Kapo.
Through these meetings, the team learned that the prices of fish have increased to meet the increasing cost production. The Egyptian aquaculture market is expected to continue growing at 8 to 10 percent each year as Egyptians continue to favor the consumption of fish over poultry and beef.
The Egyptian per capita consumption of fish in 2015 accounted for 21 kilograms (kg) per capita higher than the world average, which is approximately 19 kg per capita.
A second visit is scheduled in May 2017 to deliver training on least cost formulations for aqua feeds.