News

Egypt bought sunflower and soybean oil at a price of $220 and $300 lower than in February

Refined Sunflower Oil
Refined Soybean Oil
Egypt
Published May 13, 2023

Tridge summary

Egypt's GASC this week held an international tender for the purchase of vegetable oils, where it purchased sunflower oil at the lowest price in the last 2.5 years.

Original content

Offers of sunflower oil at a price of $1000-1060/t with immediate payment and soybean oil at a price of $1079-1085/t with immediate payment were submitted to the tender. That is, the prices were only $10-20/ton lower than the offers at the previous tender on April 19, where GASC purchased 34,000 tons of sunflower oil and refused to purchase soybean oil, which was offered $80/ton more expensive than sunflower oil. At the auction on May 11, GASC purchased 34,000 tons of oil for delivery from June 25 to July 10, significantly reducing the purchase price. So, a batch of 22,000 t of sunflower oil was purchased from Agric Sa with immediate payment at a price of $950/t S&F, which is $70/t lower than the April 19 tender and $220/t lower than the closing auction February And a batch of 12,000 tons of soybean oil was purchased from Green Suppliers with immediate payment at a price of $1,025/t S&F, which is $300/t lower than at the tender at the end of February. The decline in palm oil ...
Source: Graintrade
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.