Projections of MENA Animal Feed Market Through 2024
Corn consumption in the MENA region is projected to rise by 1.4 percent over the next 10 years, thanks to growing demand for livestock feeds. Nearly 90 percent of MENA’s corn consumption is fed to livestock, although human consumption figures significantly in Egypt and Turkey. The largest corn consumer is Egypt, where imports—which account for over half of total usage—are projected to grow by 3 percent annually through the end of 2024. Egypt’s recent economical turmoil, however, casts some doubt on its prospects for import growth. Morocco will continue to rely almost entirely on imports to supply its growing livestock sector, as will ONA, and Saudi Arabia, Iran, and OME. Turkey currently imports less corn than its neighbors, but USDA projections suggest that its rate of import growth will be among the region’s highest over the next 10 years.
Saudi Arabia, Turkey, and Iran are the largest consumers of barley in the MENA region, using it largely for animal feed. And while Saudi Arabia currently imports nearly all the barley it consumes, projections indicate declining usage as the government encourages livestock producers to use more efficient mixes, including processed feeds. Raw barley imports over the next 10 years are consequently projected to decline. In contrast, Turkey and Iran are projected to raise their barley demand. Turkey’s own barley production covers most of its domestic demand, however, so its import profile for barley is small. Similarly, owing to robust domestic production, projections indicate declining import demand for barley in Iran as well.
The MENA’s imports of soy products (soymeal and soymeal equivalents) are also expected to continue their strong growth, given the region’s near-stagnant production and rising demand for animal feed. Over the projection period, the MENA region is expected to account for 13 percent of the world’s overall import growth in soymeal. Major consumers Egypt, ONA, and Turkey are projected to have the fastest growth in consumption, with imports into each of these countries and regions satisfying nearly all the additional consumption.
