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Egypt called off vegetable oils tender on inflated prices — traders
17 June 2020, 10:25
Infographic guide Ukrainian Agribusiness 2018/19
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
- LDC:
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 days
Prices for Ukrainian sunflower oil are rising gradually as producers are holding back their sales.
