Egyptian GASC bought sunflower oil at the tender for $5/t cheaper than in December

Published 2024년 1월 19일

Tridge summary

The Egyptian state operator GASC held a tender for the purchase of vegetable oils with delivery in March and payment 180 or 270 days after the opening of the letter of credit. Prices for both sunflower and soybean oil remained relatively flat, with a decrease in the maximum price of offers indicating suppliers' willingness to sell their goods. GASC ultimately purchased 4 lots of sunflower oil due in 180 days at a price of $900/t C&F, which is $5/t lower than the December 27 tender, reflecting pressure from increased offers from Ukraine and the Russian Federation and lower prices for soybean oil.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On January 18, the Egyptian state operator GASC held an international tender for the purchase of vegetable oils with delivery in March and payment 180 or 270 days after the opening of the letter of credit. The number and prices of sunflower oil bids submitted to the tender corresponded to the level of the tender on December 27. 12 lots were offered at $950-1000 (950-990)/t C&F with 180 days payment and $993-1206 (1040-1300)/t C&F with 270 days payment. Soybean oil offers decreased from 14 to 5, and prices remained flat at $975-993 (969-1025)/t C&F with 180 days payment and $1035-1210 (1000-1350)/t C&F with 270 days payment days A decrease in the maximum price of offers indicates the willingness of suppliers to sell their goods. The cheapest batch of soybean oil was offered by InterGrain SA at a price of $975/t C&F, and sunflower oil was offered by Egyptian African Co at a price of $950/t C&F. In the end, GASC purchased 4 lots of sunflower oil due in 180 days at a price of $900/t ...

Source: Graintrade