Egypt’s GASC receives offers in vegetable oils

CAIRO: Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC,) on Monday received offers for vegetable oils in international and domestic tenders, traders said.

The lowest offer presented for soyoil in the international tender was $1,263 a tonne for 30,000 tonnes of soyoil for payment at sight while the lowest presented for sunflower oil was $1,603 a tonne for 10,000 tonnes also for payment at sight, traders said.

GASC is seeking an unspecified quantity of soyoil and sunflower oil in the international tender for arrival June 21-July 10.

It asked traders to submit bids for payment with 180-day letters of credit and at sight and said that it would choose between both offers.