Egypt's GASC gets offers in soyoil, sunflower oil tender

HAMBURG: The lowest offer in an international tender on Thursday from Egypt's state agency GASC to purchase at least 30,000 tonnes of soyoil was said to be $1,072 a tonne c&f on immediate payment terms, traders said in initial assessments.

Only one trading house, Cargill, submitted an offer for soyoil.

GASC is seeking offers for delayed payment with 180-day letters of credit or immediate payment and that it would assess both possibilities.

Cargill also offered 30,000 tonnes of soyoil at $1,080 a tonne with payment in 180 days.

The lowest offer for 10,000 tonnes of sunflower oil, also sought in the tender, was believed to be $1,319 a tonne c&f, also seeking immediate payment, submitted by trading house Belluno. The company offered up to 12,000 tonnes.

Belluno also offered sunoil at $1,325.50 a tonne for delayed 180 day payment.

One other offer was submitted for sunoil by Viterra, which submitted $1,349 a tonne for 180-day payment.

No purchase has yet been made and a decision is expected later on Thursday, traders said. The tender seeks oils for arrival between March 16 and April 5.