HAMBURG: The lowest price offered in the international tender from Egypt's state sugar buyer ESIIC to buy 100,000 tonnes of raw sugar which closed on Saturday is believed to be $462.99 tonne c&f, European traders said in initial assessments on Monday.

Offers are still being considered and no purchase has yet been reported and a decision is expected later on Monday, they said.

The ESIIC requested that a first shipment of 50,000 tonnes of sugar arrive during July 5-15 and a second shipment of the same size arrive during Aug. 15-25.