Egypt's GASC gets offers in soyoil tender, traders say

No purchase has yet been made

  

HAMBURG- The lowest offer in the international tender from Egypt's state purchasing agency GASC on Tuesday to buy at least 30,000 tonnes of soyoil was believed to be $1,381 a tonne c&f, traders said in initial assessments.

No purchase has yet been made and a decision is expected later on Tuesday, traders said.

The lowest offer was made by trading house Belluno for 6,000 tonnes with immediate payment terms. It was followed by an offer of $1,400 a tonne c&f believed to be from trading house Dreyfus for 30,000 tonnes, also with immediate payment terms, they said.

The tender seeks arrival in Egypt between Nov. 25 and Dec. 20. GASC said traders should submit offers for payment with 180-day letters of credit and at sight (immediate payment), and that it would choose between both offers.

Only one offer for 10,000 tonnes of sunflower oil also sought was reported, at $1,391 a tonne c&f for 10,000 tonnes from Belluno, also seeking immediate payment, or $1,400 a tonne with 180 day payment.

In its last international vegetable oils tender on Sept. 22, GASC bought 12,000 tonnes of sunflower oil at $1,288 a tonne c&f with immediate payment terms, for arrival between Dec. 1-15.

No purchase was made of 30,000 tonnes of soyoil also sought in the September tender. 

(Reporting by Michael Hogan; Editing by Jan Harvey) ((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters Messaging: michael.hogan.thomsonreuters.com@reuters.net))


More From Commodities