Egypt's GASC receives bids for local vegetable oils

GASC had been seeking an unspecified quantity of at least 3,000 tonnes of soyoil and 2,000 tonnes of sunflower oil

  

CAIRO- Egypt's state grains buyer, the General Authority for Supply Commodities (GASC,) on Monday received offers for local soyoil in a limited invitation to present bids.

GASC had been seeking an unspecified quantity of at least 3,000 tonnes of soyoil and 2,000 tonnes of sunflower oil for arrival Dec. 25-Jan. 15.

Traders gave the following breakdown of the offers presented at an exchange rate of 15.67 Egyptian pounds to the dollar:

* Alex co. for Seeds: 5,000 tonnes of soyoil at 14,000 Egyptian pounds equivalent to around $893.42

* El Safa Co.: 8,000 tonnes of soyoil at 14,300 Egyptian pounds equivalent to around $912.57

* C3M: 3,000 tonnes of soyoil at 14,500 Egyptian pounds equivalent to around $925.33

* El Magd: 5,000 tonnes of soyoil at 14,500 Egyptian pounds equivalent to around $925.33

* Watanya: 8,000 tonnes of soyoil at 14,315 Egyptian pounds equating to around $913.52

No purchase has yet been made but results are expected later on Monday.

(Reporting by Nadine Awadalla, Maha El Dahan and Michael Hogan, editing by Louise Heavens) ((Nadine.Awadalla@thomsonreuters.com;))


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