Egypt's GASC receives offers in soyoil, sunflower oil tender
- The lowest offer for 10,000 tonnes of sunflower oil also sought by the state agency was estimated to be $1,554 a tonne c&f, submitted by trading house Viterra and also seeking immediate payment.
- Offers are still being considered and results are expected later on Thursday. The oils are both sought for May 1-15 arrival in Egypt.
HAMBURG: The lowest offer in Thursday's international tender by Egypt's GASC to purchase at least 30,000 tonnes of soyoil was estimated at $1,183 a tonne c&f for immediate payment terms, traders said.
The offer was submitted by trading house ADM, they said.
The lowest offer for 10,000 tonnes of sunflower oil also sought by the state agency was estimated to be $1,554 a tonne c&f, submitted by trading house Viterra and also seeking immediate payment.
Offers are still being considered and results are expected later on Thursday. The oils are both sought for May 1-15 arrival in Egypt.
GASC had said that traders should submit bids for delayed payment with 180-day letters of credit and for immediate (on sight) payment and that it would choose between both offers.
The lowest soyoil offer for 180-day payment was said to be $1,190 a tonne c&f from trading house Posco.
Lowest sunflower oil offer for 180-day payment was said to be $1,566 a tonne c&f from Viterra.
GASC is also holding a separate tender on Thursday to buy soyoil from local Egyptian production.
The lowest offer in the local production tender was said to be from Alex Seeds for 15,000 tonnes at 17,950 Egyptian pounds, equating to an estimated $1,144 a tonne, traders said.
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