Egypt's Oilseed Imports Set to Hit Four-Year High as Vegetable Oil Market Holds Steady

The US Department of Agriculture has raised its forecast for Egypt's imports of major oilseeds in the 2025/26 marketing year to 4.52 million tonnes, bringing them close to the historic high of 4.61 million tonnes recorded in the 2021/22 season.

Imports had fallen sharply in 2022/23 to just 2 million tonnes, before gradually recovering to 3.19 million tonnes in 2023/24 and then 3.62 million tonnes last season, reflecting a sustained upward trend following the steep decline.

Vegetable Oil Imports Stable Despite Minor Fluctuations

Meanwhile, imports of major vegetable oils have held relatively steady, recorded at 1.75 million tonnes in the June estimates and 1.7 million tonnes in the July forecast, compared with 1.80 million tonnes last season and 1.81 million tonnes in 2023/24.

Imports had dropped to 1.64 million tonnes in 2022/23, after reaching 1.71 million tonnes the season before, underscoring the market's stability within a range of roughly 1.7 to 1.8 million tonnes in recent years.

Soybeans Drive Growth in Imports and Consumption

Estimates for soybean imports in the 2025/26 season show a substantial jump to 4.5 million tonnes, the highest level in six seasons. This follows imports of 3.6 million tonnes last season and 3.2 million tonnes the season before, having fallen to just 1.9 million tonnes in 2022/23 — a 56% decline from the 2021/22 peak of 4.6 million tonnes.

In parallel, domestic soybean consumption is expected to grow 21% year-on-year to reach 4.1 million tonnes, up from 3.4 million tonnes in 2024/25 and 2.9 million tonnes in 2023/24. This follows a drop in consumption to 2.7 million tonnes in 2022/23, compared with 3.7 million tonnes in 2021/22, pointing to a clear recovery that now exceeds previous levels.

Soybean Oil Consumption Fluctuates, Relatively Stable in 2025/26

Soybean oil consumption has seen notable swings, reaching 960,000 tonnes in 2021/22 before falling to 560,000 tonnes the following season, then rising again to 880,000 tonnes in 2023/24 and holding at roughly the same level last season.

Current estimates show a slight decline to 840,000 tonnes, reflecting a continued recovery in domestic demand, albeit below the peak recorded in previous seasons.

Palm Oil: Almost Entirely Imported, Steady Around 1.2 Million Tonnes

Estimates indicate that Egypt's palm oil imports will reach 1.15 million tonnes in the 2025/26 season, compared with 1.2 million tonnes in each of the past two seasons and 1.1 million tonnes in 2022/23, reflecting relative stability within a range of roughly ±10% over the past five years.

Domestic consumption of palm oil is expected to reach 1.16 million tonnes in the current season, closely matching the volume of imports, indicating an almost complete reliance on imports to meet domestic demand. Consumption stood at 1.17 million tonnes in 2024/25 and 1.16 million tonnes the season before, after falling to 1.1 million tonnes in 2022/23.

Palm oil remains the most widely consumed oil in the Egyptian market, compared with soybean oil (840,000 tonnes).

Source: Al Boursa