Arab Finance: Major Egyptian animal feed production firms have decided to sell corn and soybean to traders and distributors in US dollar amid the increasing prices of fodders in the local market, three government sources told Asharq Business.

Last week, several animal feed companies met with traders to discuss the possibility of selling fodders to the latter in hard currency, such as USD and euro, another official said.

He pointed out that, during the meeting, some traders agreed on purchasing yellow corn in foreign currency with payment facilities of up to one month, while others insisted on buying corn in EGP, which was rejected.

The amount of corn offered for sale during the meeting amounted to up to 120,000 tons, an official noted.

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