Country assessment

Egypt

We assess Egypt as Dependent (44.6). It is the world's largest wheat importer, taking 12.5 million tonnes in marketing year 2026/27 alongside 10.5 million tonnes of corn and 5.2 million tonnes of soybeans,[1][2] and it is also a real farming nation producing roughly half its own cereal supply, two million tonnes of fish and 97 per cent of its broiler meat.[1][3]

The binding constraint is water: 0.027 hectares of arable land per person and under 500 cubic metres of renewable water, 97 per cent of which arrives from beyond Egypt's borders down a river dammed upstream since September 2025 with no sharing agreement in force.[7][9][10][11]

A second constraint runs alongside it: 45.4 per cent of Egyptians, 52.9 million people, could not afford a healthy diet in 2024, so aggregate output and import volumes that look adequate still leave most households priced out.[54]

The protein system

Egypt feeds 116.5 million people as recorded in 2024,[36] which CAPMAS breaks into over 108 million citizens plus nine million migrants,[1] on 89.8 grams of protein per day, comfortably above requirement.[4] The composition is the whole story. Only 3.4 per cent of dietary energy comes from animal protein,[5] meat supply is 27.6 kg per person per year,[6] and wheat alone provides about 35 per cent of caloric intake at roughly 180 kg per person per year, among the highest rates on earth.[13] Egypt is a cereal protein system with a tilapia and broiler top layer.

Wheat production reaches a near-record 9.8 million tonnes in MY2026/27 against consumption of 20.3 million tonnes, so wheat is 48 per cent domestic; milled rice production of 4.2 million tonnes exceeds consumption of 4.0 million tonnes; corn production of 7.0 million tonnes meets 40 per cent of a 17.4 million tonne demand that is 85 per cent feed.[1] Wheat, corn and milled rice production together covers about 50 per cent of cereal consumption while imports equal about 55 per cent of it, the difference going to stock build and to 1.2 million tonnes of wheat flour exported into Sudan, Somalia, Eritrea, Yemen and the Palestinian territories.[1]

Total fish production reached 2.0 million tonnes in 2023, of which aquaculture supplied 1.57 million tonnes worth about USD 3.5 billion; Nile tilapia is 61.7 per cent of farmed output, mullet 22 per cent and carp 9 per cent, across some 64,500 hectares of fish farms nationally, with tilapia output concentrated in four northern governorates: Kafr el-Sheikh, Port Said, Sharqia and Beheira.[3] Egypt supplies 67 per cent of Africa's aquaculture, though that is only 1.7 per cent of world output.[3][35] Poultry produced 1.6 billion commercial broilers plus 320 million rural birds in 2025, covering 97 per cent of demand, and 16 billion table eggs.[1] Red meat self-sufficiency is 60 per cent.[34]

The subsidy architecture holds this together. Some 69 million people were registered in the bread subsidy programme in January 2025, down from 71 million before May 2024, and the state covers 89 per cent of the cost of a loaf priced at 20 piasters.[1][13] The food subsidy allocation rises from EGP 160 billion in FY2025/26 to a draft EGP 200 billion (about USD 4.1 billion) in FY2026/27.[13]

Durable domestic capacity: 43

Quantitative score 46, adjusted down 3 points

Egypt scores mid-range on output and poorly on durability. The output is genuine: half the cereal supply, a rice surplus, two million tonnes of fish, near-complete poultry and egg coverage, and a record 4.6 million tonnes of wheat procured by 20 June 2026 from a record 3.7 million feddans.[14] Fish supply per person, at 20.5 kg per year, matches the global average of 20.7 kg.[6][35]

Durability is the problem. Arable land is 3.1 per cent of the territory and 0.027 hectares per person, among the world's lowest ratios,[7] and the poultry, dairy and aquaculture output that looks domestic is assembled from 10.5 million tonnes of imported corn and 5.2 million tonnes of imported soybeans.[1][2] We applied a downward adjustment of three points for erosion the production tables do not show: USDA identifies rising sea levels and soil salinity in the Delta as direct threats to the rice crop that anchors Egypt's one genuine surplus,[1] the northern lakes carrying the capture-fishery share of output are degraded, and the Grand Ethiopian Renaissance Dam has been generating since 9 September 2025 with Egypt's foreign ministry calling it illegal and no binding allocation agreed.[11][12]

Resource headroom: 33

Quantitative score 28, adjusted up 5 points

Egypt has among the least natural headroom in this index. Total renewable water is 55.5 to 57.5 billion cubic metres a year, 97 per cent of it Nile inflow generated outside the country, and per-capita availability has fallen below 500 cubic metres, half the absolute-scarcity threshold.[9][10] Renewable internal freshwater, the resource Egypt generates itself, is 8.9 cubic metres per person per year.[8] Agriculture takes 86 per cent of freshwater withdrawals, conveyance efficiency runs at 70 per cent and irrigation efficiency at 50 per cent.[10]

Cropland and arable land have both expanded since 2000: cropland grew 16.6 per cent to 3.84 million hectares and arable land grew 10.8 per cent to 3.10 million hectares.[48][49] Population grew 59 per cent over the same span, so the per-person entitlement fell regardless of the absolute gain: arable land per capita dropped 29.3 per cent, from 0.038 to 0.027 hectares, and cropland per capita fell 20.8 per cent.[48][49] What sets Egypt apart from other land-constrained entities is that this expansion has never outrun its water base. Land equipped for irrigation covered 100 per cent of cropland in 2000 and still covers 99.7 per cent in 2019, the latest verified reading, so new cropland has been added already water-secured rather than rain-fed and exposed.[48]

Agricultural credit is the weaker of the two capital series. The agriculture orientation index for credit, where 1.00 marks parity with agriculture's share of GDP, has run between 0.09 and 0.23 since 2000 and stood at 0.156 in 2024 after peaking at 0.228 in 2021; agriculture took 1.67 per cent of total bank lending in 2024, below the 2.24 per cent world average.[50][51] Private bank credit has not been the route by which Egyptian farmland expands, however. The mechanism is state infrastructure spending, and it is that spending, not agricultural lending, that funds the country's reclamation programmes.

What raises Egypt above the wealthy desert importers is the efficiency of its protein mix: a diet drawing 3.4 per cent of its calories from animal protein places far less claim on land and water per gram than a meat-centred one.[5] The animal protein that exists sits in tilapia and broilers, and Egyptian aquafeed is built on yellow corn (20 to 25 per cent), wheat bran (20 to 30) and rice bran (10 to 25),[1] so the sector draws little on wild-caught fishmeal, the resource FAO treats as already peaked.

We applied an upward adjustment of five points for the New Delta project, inaugurated on 17 May 2026 with EGP 800 billion committed, 19 pumping stations, 2,000 MW of generation and the El Hammam plant treating 7.5 million cubic metres a day, targeting 2.2 million feddans and a cultivated-area expansion of roughly 15 per cent.[32][33] This is commissioned rather than announced. We held the uplift well below the ceiling because reused drainage water is largely water already inside the national balance, and because Egypt's two prior flagship reclamation programmes set the realistic range for what a stated target delivers. Toshka, launched in 1997 against a target of 3.4 million feddans, had reclaimed and cultivated 517,000 by 2026.[52] The 1.5 Million Feddan project, launched in December 2015, had cultivated 440,000 feddans by August 2025, with a further 875,000 handed to beneficiaries but not yet farmed.[53] Against that record, 2.2 million feddans is a target rather than a delivered area.

Import exposure: 37

Quantitative score 30, adjusted up 7 points

Supplier concentration is severe and route geography is favourable. Of 8.8 million tonnes of wheat landed between July 2025 and January 2026, Russia supplied 60 per cent and Ukraine 24.5 per cent, giving a partner Herfindahl-Hirschman index of approximately 0.44 and placing 85 per cent of the national staple in the hands of two countries at war with each other.[1] Across five marketing years Russia supplied 35.8 million tonnes against 9.0 from the EU and 8.85 from Ukraine.[1] Imports equal about 55 per cent of cereal consumption and 40 per cent of food consumption by value.[1][10]

Route geography is the mitigant: Egypt's supply lanes proved robust in the year the Gulf's did not. Every principal grain and oilseed origin (Russia, Ukraine, the EU, the United States, Brazil, Argentina) reaches Egyptian ports via the Black Sea and Turkish Straits, the Mediterranean or the Atlantic.[1][2] When the 2026 Hormuz crisis cut tanker traffic by more than 90 per cent and FAO warned that up to 30 per cent of traded fertiliser transits that strait,[28][29] Egypt's food lanes were untouched and its damage arrived through energy prices. Egypt owns the Suez Canal rather than depending on it for food, with traffic up 23.6 per cent for a third successive quarter through mid-2026,[30] and private millers took 60.3 per cent of wheat imports in the same window, so the country is no single-tender monopsony.[1] We applied an upward adjustment of seven points on those grounds. The residual exposure is the Turkish Straits.

Upstream dependence: 41

Quantitative score 38, adjusted up 3 points

Feed is the failure point. Domestic soybean production covers under 2 per cent of demand in MY2026/27, and 72.2 per cent of the 20.8 million tonnes imported since MY2020/21 came from one origin, the United States.[2] Domestic yellow corn meets under 40 per cent of feed demand against 14.8 million tonnes of corn feed use, and aquaculture alone consumes 1.4 to 1.5 million tonnes of compound feed.[1] Breeding stock and much veterinary input are imported.

Egypt owns the layer most import-dependent countries rent. It holds 7.2 to 7.3 million tonnes of urea capacity, exported an average of about 4.5 million tonnes a year across 2023 to 2025, earned USD 9.4 billion from fertiliser exports in 2025, sits on more than three billion tonnes of phosphate reserves and crushes oilseeds domestically at around 10 million tonnes of installed capacity.[2][25][26] It also used that position: with global urea prices spiking, the government imposed a USD 90 per tonne nitrogen export duty from May 2026, later converted to a 10 per cent ad valorem levy, to hold volume for Egyptian farmers.[27]

We capped the upward adjustment at three points because the nitrogen base now runs on imported gas. Domestic production is about 4 billion cubic feet a day against consumption above 6.4.[23] When Israeli supply stopped on 28 February 2026, fertiliser output was curtailed to protect civilian power and the monthly gas import bill went from USD 560 million to USD 1.65 billion.[22][25] Supply was cut again in June 2026, prompting USD 1.1 billion of emergency LNG purchases,[23] and the FY2026/27 budget allocates USD 10.7 billion to gas imports, up 26 per cent.[24]

Access and affordability: 50

Quantitative score 47, adjusted up 3 points

This is the widest gap in the assessment between what Egypt produces and what its people can afford. A healthy diet cost 6.38 PPP dollars a day in 2024 against a world average of 4.46,[37] and 52.9 million people, 45.4 per cent of the population, could not afford it, against 13.1 per cent in Morocco and 8.7 per cent in Tunisia on the same current release.[54] Outcome indicators sit somewhat better than that headline implies: prevalence of undernourishment is 9.4 per cent over 2022 to 2024, close to the global average,[37][38] and child stunting is 12.8 per cent in 2021 and about 13 per cent in 2024, well below the developing-country norm and half the 26 per cent recorded in 2000,[37][39] evidence that the subsidy system delivers calories even where it fails on cost.

Price volatility is severe on any measure. Food inflation peaked at 73.6 per cent in September 2023, has averaged 17.5 per cent since 2010, and was still swinging between 5.4 and 7.6 per cent month to month as late as mid-2026.[40] Food inflation ran at 54.7 per cent across FY2024, and food absorbs more than 44 per cent of bottom-quintile household spending, so a family with no margin bears the volatility directly.[41]

Physical access is comparatively strong. A nationwide network of subsidised bakeries and ration-card outlets served 73 million people, about 65 per cent of the population, in 2023,[42] and 69 million, about 59 per cent, remained registered in January 2025 after the pre-May-2024 cull of ineligible cards,[1] but this coexists with real geographic inequality: rural poverty (9.0 per cent) runs roughly double the urban rate (4.5 per cent) and the national poverty rate stood at 33.5 per cent in 2021.[41] At 45.4 per cent, unaffordability is severe and widespread, putting the pillar at 47. We add three points because the food subsidy allocation is funded rather than announced, rising from EGP 160 billion in FY2025/26 to a draft EGP 200 billion, about USD 4.1 billion, in FY2026/27, a financed near-term commitment the affordability indicators do not otherwise capture, taking the pillar to 50.[13]

Shock endurance: 63

Quantitative score 57, adjusted up 6 points

This is Egypt's strongest pillar, and it rests on stocks, adaptation and crisis purchasing power rather than wealth. The strategic wheat reserve stood at about 4.5 million tonnes in February 2026, roughly four months of consumption, against a buffer of five weeks a decade earlier, and by April 2026 the supply ministry reported up to six months of cover across basic commodities.[13][15][16] Net international reserves hit a record USD 55.07 billion in June 2026,[18] and the January 2026 level of USD 52.6 billion already covered about 6.9 months of merchandise imports, above the conventional three-month adequacy floor.[43] Remittances ran at USD 43.1 billion over July 2025 to May 2026, up 31.2 per cent.[18] Food inflation fell from 20.2 per cent in January 2025 to 1.5 per cent a year later, though it remains volatile.[1][40]

We applied an upward adjustment of six points for documented adaptation that stock ratios miss. Egypt rebalanced its wheat book away from Russia, whose share fell from 74 per cent in 2024 to 55 per cent in 2025 while Ukraine's doubled;[13] it moved bulk state procurement from GASC to the Future of Egypt Authority mid-crisis;[1] it raised the subsidised loaf price from 5 to 20 piasters on 1 June 2024, the first increase in 36 years, without disorder;[1] and it absorbed a Suez revenue collapse from USD 10.25 billion in 2023 to about USD 4 billion in 2024.[31]

Crisis purchasing power is mixed but nets positive. Reserve depth in months of imports is genuinely strong, and Egypt has demonstrated it can scale social protection under pressure: the World Bank-financed Takaful and Karama cash transfer programme grew from 3.69 million households in June 2022 to 4.67 million by December 2023 on the back of a USD 500 million financing package explicitly justified by COVID-19 and the Ukraine shock.[46][47] But market access is costly: a speculative-grade rating (S&P B stable, Moody's Caa1 positive, Fitch B negative) meant Egypt's USD 2 billion return to the eurobond market in January 2025 launched at an indicative yield range of 9.75 to 10 per cent,[44][45] and debt servicing consumes roughly 83 per cent of tax revenue against USD 29.18 billion of debt service due in 2026,[19][20][21] so Egypt cannot outbid on world markets the way a Gulf sovereign can. The feed chain caps the score further: it carries about a month of cover, with corn ending stocks at 10.3 per cent of use and soybean meal stocks at 8.6 per cent,[1][2] so in a feed interruption bread would hold while poultry, eggs and farmed fish contracted within weeks.

Trajectory

The direction of travel is mildly positive and the levers are being pulled competently. Record procurement of 4.6 million tonnes at a price near USD 320 per tonne shows a state willing to pay above world prices to buy sovereignty in the staple.[14] New Delta, the silo programme under the Egyptian Holding Company for Silos and Storage, and wastewater reuse are the only expansion routes available, and they are funded.[16][17][32] Reserves, remittances and disinflation have restored balance-sheet room that did not exist in 2022.

Four factors would materially reshape this outlook. A binding Nile allocation agreement with Ethiopia would convert Egypt's largest unquantifiable risk into a managed one and would justify a capacity upgrade. Domestic feed-grain substitution, whether through New Delta maize or a higher domestic share of aquafeed protein, is the highest-leverage intervention available on upstream and endurance together, given that a month of soymeal cover currently sits underneath every gram of Egyptian animal protein. Resolution of the gas deficit would remove the imported-feedstock caveat from an otherwise sovereign fertiliser industry.[22][24] On access, the OECD's recommendation to shift spending from blanket price subsidies toward nutrition-targeted transfers would do more for the bottom quintile than the current bread-price architecture, which holds calories steady without closing the affordability gap.[37] Conversely, a Turkish Straits closure or a Russian export restriction would expose the concentration that route geography currently disguises, and against that scenario four months of wheat is a real answer with a finite end date.

Sources

  1. Grain and Feed Annual, Cairo, Egypt (EG2026-0002), 11 March 2026 · USDA Foreign Agricultural Service (2026)
  2. Oilseeds and Products Annual, Cairo, Egypt (EG2026-0004), 23 March 2026 · USDA Foreign Agricultural Service (2026)
  3. Egyptian Aquaculture Industry - 2025 Update (EG2025-0006) · USDA Foreign Agricultural Service (2025)
  4. Daily per capita protein supply (FAO Food Balance Sheets, 1961-2023) · Our World in Data (2025 (data 2023))
  5. Share of the daily calorie supply that comes from animal protein · Our World in Data (FAO Food Balance Sheets) (2025 (data 2023))
  6. Meat supply per person; fish and seafood consumption per capita · Our World in Data (FAO Food Balance Sheets) (2025 (data 2023))
  7. Arable land (hectares, hectares per person, % of land area), Egypt · World Bank Open Data (2025 (data 2023))
  8. Renewable internal freshwater resources per capita, Egypt (ER.H2O.INTR.PC) · World Bank Open Data (2025 (data 2022))
  9. Water resources in Egypt · Fanack Water (2023)
  10. Egypt has a water problem, and no, it's not only the GERD · Atlantic Council MENASource (2021)
  11. Ethiopia inaugurates GERD dam amid downstream tensions with Egypt and Sudan · Al Jazeera (2025)
  12. Ethiopia's Renaissance mega-dam fuels energy hopes and regional anxiety · Mongabay (2026)
  13. Egypt's road to food security amidst multiple shocks · ISPI (Istituto per gli Studi di Politica Internazionale) (2026)
  14. Egypt records highest-ever domestic wheat procurement in push for greater food security · AgriFuture MEA (2026)
  15. Egypt holds 4.5 Mt of wheat reserves covering four months of demand · Milling Middle East and Africa (2026)
  16. Egypt targets 5 million tonnes of local wheat as strategic reserves reach six-month level · Daily News Egypt (2026)
  17. Egypt advances silo modernisation efforts to safeguard strategic grain reserves · Daily News Egypt (2026)
  18. Egypt's net international reserves rise USD 3.6bn in H1 2026 to record USD 55.1bn · Daily News Egypt (Central Bank of Egypt data) (2026)
  19. Egypt's foreign reserves hit record as households await improvement · The National (2026)
  20. CBE raises 2026 external debt service forecast by USD 1.3bn · Egypt State Information Service (2026)
  21. Arab Republic of Egypt: Fifth and Sixth Reviews Under the Extended Fund Facility (Country Report 26/69) · International Monetary Fund (2026)
  22. Israeli gas exports resume, but Egypt is counting cost of energy crunch fuelled by war · The National (2026)
  23. Israel gas cuts force Egypt into emergency summer fuel imports · Al Manassa (2026)
  24. Egypt allocates USD 10.7bn for gas imports in FY2026/27, up 26% year on year · NewsBase (2026)
  25. Egyptian urea production continues to run despite gas shortages · World Fertilizer (2026)
  26. Egypt restores gas supply stability as fertiliser exports reach USD 9.4bn · The Middle East Observer (2026)
  27. Egypt imposes USD 90 per tonne nitrogen fertilizer export duty for three months · Hydrocarbon Processing (2026)
  28. FAO Chief Economist warns of severe global food security risks from disruption to Strait of Hormuz trade corridor · FAO (2026)
  29. Clock is ticking: Hormuz disruption raises fears of global food crisis · UN News (2026)
  30. Suez Canal targets USD 10bn revenue as traffic rebounds 23.6% · The Middle East Observer (2026)
  31. Egypt eyes Suez Canal revenue growth in 2026 amid Red Sea stability · Egypt Today (2026)
  32. Al-Sisi inaugurates USD 15bn New Delta project to reclaim 2.2 million feddans of desert · iGrow News (2026)
  33. Al-Sisi inaugurates New Delta project with investments nearing EGP 800bn · Daily News Egypt (2026)
  34. Egypt is producing 60% of red meat, nears full poultry self-sufficiency (Ministry of Agriculture and Land Reclamation) · Food Business Middle East and Africa (2025)
  35. The State of World Fisheries and Aquaculture 2024 (SOFIA), summary release · FAO (2024)
  36. Population, total; agriculture value added (% of GDP); employment in agriculture, Egypt · World Bank Open Data (2025 (data 2024))
  37. Strengthening food security and nutrition in Egypt (in Policies for the Future of Farming and Food in Egypt) · OECD (2026 (data 2024))
  38. Prevalence of undernourishment (% of population), Egypt, Arab Rep. (SN.ITK.DEFC.ZS) · World Bank Open Data (FAO SOFI-derived) (2025 (data 2023))
  39. Prevalence of stunting, height for age (% of children under 5), Egypt, Arab Rep. (SH.STA.STNT.ZS) · World Bank Open Data (UNICEF/WHO/World Bank JME) (2025 (data 2021))
  40. Egypt food inflation · Trading Economics (CAPMAS) (2026)
  41. Arab Republic of Egypt Poverty & Equity Brief, October 2025 · World Bank (2025 (data 2021, FY2024))
  42. Egypt increases price of subsidized bread for the first time since 1989: implications for nutrition and food security · IFPRI (2024 (data 2023))
  43. Egypt's FX reserves cover 6.9 months of imports, above global norms · Amwal Al Ghad (Central Bank of Egypt Governor) (2026)
  44. Egypt sovereign credit ratings (S&P, Moody's, Fitch) · countryeconomy.com (2025)
  45. Egypt re-enters global debt market with USD 2bn eurobond issuance · Enterprise (EnterpriseAM Egypt) (2025)
  46. Promoting Inclusive Human Capital Development and Building Resilience in Egypt through Cash Transfer Programs (Results Brief) · World Bank (2024 (data Dec 2023))
  47. New World Bank financing will expand and strengthen Egypt's flagship social protection program · World Bank (2022)
  48. Land Use (RL), Egypt: land area equipped for irrigation and cropland, 2000-2019 · FAOSTAT (2026 (data 2000-2019))
  49. Arable land (AG.LND.ARBL.HA) and total population (SP.POP.TOTL), Egypt, Arab Rep. · World Bank Open Data (FAOSTAT-sourced) (2025 (data 2000-2024))
  50. Credit to Agriculture, Forestry and Fishing (IC), Egypt: value, share of total credit and agriculture orientation index, 1991-2024 · FAOSTAT (2026 (data 1991-2024))
  51. Credit to agriculture. Global and regional trends 2015-2024 · FAO (2026)
  52. Toshka: Egypt's Desert Agriculture Strategy Takes Root · The Middle East Observer (2026)
  53. Egypt reaches 440,000 feddans cultivated under 1.5m Feddan Project · Amwal Al Ghad (2025)
  54. Share of population unable to afford a healthy diet, Egypt (Cost and Affordability of a Healthy Diet, CoAHD) · FAOSTAT, data, July 2026 (SOFI report) release (2026 (data 2024))

What we could not measure

Egypt's own statements on wheat reserves, four months in February 2026 rising to six months across staples by April, do not reconcile with the commodity balance, which implies wheat stocks cover only 2.7 months of consumption; no official methodology explains the gap. Egypt publishes no protein self-sufficiency ratio, so the production and import figures used here are calculated rather than drawn from an FAO computation. The most recent verified dairy self-sufficiency reading dates to 2022.

Published August 2026 ·How scores are produced