Source: Oleoscope (Russia)
Egypt’s state grain buyer GASC announced the purchase of 36,600 tons of sunflower oil as part of a previously announced international tender. The purchase included 24,600 tons of sunflower oil for delivery from October 15 to 31 and 12,000 tons for delivery from November 1 to 15. According to international agencies, GASC did not purchase any soybean oil in the tender.
“It seems that GASC had a need for sunflower oil for these delivery periods for supply reasons, and this seems to have been the reason for the purchase, even though soybean oil was cheaper,” said a European trader.
No oils were purchased in the national tender that ran in parallel to the international tender either.
The tender received 14 bids from 7 companies for sunflower oil in quantities of 6000 to 30000 tons at prices of $1050 to $1090 and 8 bids for soybean oil in quantities of 5500 to 25000 tons at prices of $1005 to $1065.
The average price per ton of oil in this contract was $1018:
- Green Suppliers, 12,000 tons, with deliveries from October 15 to October 31, at $1018.00.
- Aston Agro Industrial, 12,000 tons, delivery November 1-15, at a price of $1018.00.
- TOI Commodities, 6,300 tons, for delivery October 15-31, at a price of $1018.00.