Source: Oleoscope (Russia)
Egypt’s state agency GASC held an international tender on September 10 to contract 30,000 tons of soybean oil and 10,000 tons of sunflower oil with immediate payment, Grain Online reported, citing European traders. During the tender, 69.7 thousand tons of sunflower oil were purchased on the foreign market and 6 thousand tons of soybean oil on the domestic market.
Ten companies took part in the tender, with bid prices ranging from 1036-1095 US dollars for soybean oil and 1080-1110 US dollars for sunflower oil. The lowest bid for sunflower oil was USD 1080 per ton C&F.
Egypt bought sunflower oil at a slightly higher price than in August, when the average price per ton of oil in the contract was US$1018, but refused to buy imported soybean oil because the price was too high.
During the tender, sunflower oil was contracted by the following companies:
- Viterra – 30 thousand tons at USD 1047 per ton with delivery December 10-25 – Germany
- Green Suppliers – 12 thousand tons at USD 1045 per ton for delivery from November 20 to December 5 – Russia
- Aston Agro – 12,000 tons at USD 1045 per ton for delivery from November 20 to December 5 – Russia
TOI – 15,700 tons at USD 1045 per ton for delivery from November 20 to December 5 – Russia Aston Agro – 15,700 tons at USD 1045 per ton for delivery from November 20 to December 5
GASC also conducted an internal tender for the purchase of 6,000 tons of soybean oil at USD 992.76 per ton. The winners of the tender were MBC/Soyen (5,000 tons) and Cairo M (1,000 tons).
According to Egyptian Supply Minister Sherif Farouk, the latest purchase includes a strategic stockpile of vegetable oils that will cover the country’s needs for 7.6 months and is in line with the guidelines of the manual, which stipulates a six-month supply of basic foodstuffs.