USSEC introduces SPC to Egyptian Market
USSEC and USSEC member Midwest Ag Enterprises are working together in Egypt to introduce soy protein concentrate (SPC) to a growing aquaculture market. USSEC organized an aquaculture seminar on optimized feed formulation for marine finfish and tilapia. A total of 95 participants attended the May 10, 2015 event, representing 40 of the top poultry and aqua feed producing companies and opinion leaders in Egypt’s aquaculture industry. The presentations’ main message emphasized the important potential of U.S. Soy in improving diet quality and performance, consequently providing an opportunity to increase returns for U.S. Soy farmers. USSEC consultant Sirri Kayhan concluded the conference by demonstrating the economic advantage of using SPC to replace fishmeal. Follow-up visits with feed manufacturers underlined the existing interest in marine feeds using SPC. All of the feed manufacturers visited have established projects to produce marine fish feed. Egypt’s aquaculture sector has been growing at more than 10 percent per year for the past 10 years. Today, the aquaculture sector produces approximately 1.1 million tons of fish, 40,000 tons of which are marine fish. This number is expected to double by 2017 as Egypt unveils plans to establish 2,400 hectares of marine fish farms along the Suez Canal waterline. The project is expected to produce 50,000 tons of fish annually and annual demand for marine feed is expected to reach 200,000 tons. Current marine feed production capacity is only 1000 tons, leaving great opportunity in terms of improving quantity as well as quality of marine aqua feed. FAS subsidizes two of USSEC’s representatives in the MENA region: Salah Taher, Egypt country representative, and Sirri Kayhan, USSEC’s country representative in Turkey, both have year-long contracts funded by FMD.