Import Tariff Quota for Corn
Egypt Implements Tariff Quota for Corn Imports Amid Production Challenges
In a recent announcement, Egypt’s Ministry of Commerce revealed the establishment of a tariff quota aimed at ensuring the ongoing safety of supply and price stability in the crucial sectors of feed, chicken, and red meat production. The quota has been set to allow the import of up to 1 million tons of corn, a vital input for these industries.
The Ministry highlighted a notable decrease in domestic corn production over the last year, prompting the need for this emergency measure. To prepare for anticipated fluctuations in global prices, officials emphasized the importance of maintaining a balance between supply and demand until the upcoming harvest period.
The window for utilizing this tariff quota will remain open until July 31, during which the import of corn will be permitted to address the shortfall in local production. However, to protect domestic corn farmers, the government will terminate this program as of August 1, coinciding with the start of the harvest. Post-termination, customs duties on imported corn will be maintained at a steep rate of 130%.
The framework of the tariff quota stipulates that individual importers may engage in a maximum of 8,000 tons of imports to ensure fair access among all participants. Additionally, any importer will be required to pause for seven days before making subsequent shipments under this regime.
This strategic move is part of broader efforts to stabilize Egypt’s agricultural commodities market, ensuring that local production meets the food security needs of the nation.
