Egyptian SIIC seeks 140,000 tonnes raw sugar

09 Feb, 2004

Egypt's Sugar and Integrated Industries Company (SIIC) is seeking 70,000 tonnes of raw sugar for shipment in March or the first half of April, and 70,000 tonnes in May or the first half of June, traders said on Sunday.
SIIC invited suppliers to submit their offers by 10 am (0800 GMT) on February 14, they said, quoting a tender that was subsequently faxed to Reuters.
SIIC officials were not available for comment.
SIIC cancelled a 40,000-tonne sugar tender in November, two days after the tender was announced. A SIIC official later told Reuters the tender was cancelled because the firm lacked dollars to pay for the transaction.
Egypt has faced rising import costs since the Egyptian pound lost a quarter of its value after what analysts described as a "managed" currency float last year. Dollars have become scarce at official rates, while a black market in pounds has thrived.

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