Egypt purchased more than 35 thousand tons of vegetable oils at the tender

Sunflower Seed

Vegetables

Egypt

Regulation & Compliances

Market & Price Trends

Published Mar 30, 2024

Tridge summary

Egypt has successfully secured a significant amount of edible oils through a tender organized by its state food procurement agency, GASC, purchasing a total of 35,250 tons of sunflower and soybean oil. The procurement includes 18,000 tons of soybean oil from ADM at $1,050 per ton and 17,250 tons of sunflower oil from Aston Agro Industrial at $930 per ton, with deliveries scheduled in two phases within May. Payment for these purchases will be made through a letter of credit within 180 days. This move comes after a previous tender where Egypt bought 60,250 tons of sunflower oil, underscoring the country's ongoing efforts to bolster its edible oil reserves. Additionally, the article notes that Russia has decided to maintain a zero export duty on sunflower oil starting from April, which could influence global market dynamics.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Egypt contracted 35 thousand 250 tons of sunflower and soybean oil at the latest tender, market operators report. They were purchased by a regular participant in such tenders, the state food procurement agency GASC. The largest part, 18 thousand tons, was soybean. The shipment was purchased from ADM at a price of $1,050 per ton. Delivery time to the importer is from May 16 to May 30. Another 17,250 tons were sunflower oil. It was supplied by Aston Agro Industrial for $930 per tonne. The products will be delivered to the importer in two stages. 5,750 tons will be sent in the first half of May, the rest - in the second half of May this year. Payment will be made by letter of credit within 180 days. Starting from April, Russia will maintain a zero export duty on sunflower oil. This is the second such tender this year. The first was held at the end of last month. Then Cairo contracted 60,250 tons of sunflower oil. The largest volumes, 19 thousand tons, were provided by Green ...

Source: Rosng