Egypt called off vegetable oils tender on inflated prices — traders

Infographic guide Ukrainian Agribusiness 2018/19

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Market operators report that Egypt's General Authority For Supply Commodities (GASC) has cancelled a tender for the purchase of vegetable oils, the APK-Inform consultancy writes.

Excessively high offer prices for soybean and sunflower oil prevented the agency from conducting the tender.

Zerno On-Line previously informed that GASC planned to purchase 30 thou. t of soybean and 10 thou. t of sunflower oil for Aug 20-Sep 5 shipment.

Offers presented at the tender:

  • Hakan Agro:

30 thou. t of soybean oil at 712.12 USD/t, payable by letter of credit, with payment upon presentation

30 thou. t of soybean oil at 723.12 USD/t, paid by letter of credit with installment payment within 180 days

30 thou. t of soybean oil at 749.82 USD/t, payable by letter of credit, with payment upon presentation

30 thou. t of soybean oil at 757.2 USD/t, paid by letter of credit with installment payment within 180 days

30 thou. t of soybean oil at 715 USD/t, payable by letter of credit, with payment upon presentation

30 thou. t of soybean oil at 720 USD/t, paid by letter of credit with installment payment within 180 days

12 thou. t of sunflower oil at 802.5 USD/t, payable by letter of credit, with payment upon presentation

12 thou. t of sunflower oil at 809.04 USD/t, paid by letter of credit with installment payment within 180 days

  • Posco:

30 thou. t of soybean oil at 754 USD/t, payable by letter of credit, with payment upon presentation

30 thou. t of soybean oil at 760 USD/t, paid by letter of credit with installment payment within 180 days

  • Aston:

12 thou. t of soybean oil at 707.75 USD/t, payable by letter of credit, with payment upon presentation

12 thou. t of soybean oil at 721.25 USD/t, paid by letter of credit with installment payment within 180 days

30 thou. t of soybean oil at 712.5 USD/t, payable by letter of credit, with payment upon presentation

12 thou. t of soybean oil at 725.5 USD/t, paid by letter of credit with installment payment within 180 daysVegetable oil industry in Ukraine (click for full resolution)

Prices for Ukrainian sunflower oil are rising gradually as producers are holding back their sales.

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