Egypt's GASC cancels international tender for vegetable oils

No purchase has yet been made

  

HAMBURG- Egypt's state commodities purchasing agency GASC on Tuesday cancelled an international tender to buy and import 30,000 tonnes of soyoil and 10,000 tonnes of sunflower oil with no purchases made.

GASC gave no further details.

Traders said earlier on Tuesday that only two companies had participated in the tender, with only one offer received for soyoil at $1,379 a tonne c&f. 

GASC held a separate domestic tender on Tuesday to buy at least 3,000 tonnes of Egyptian soyoil and 1,000 tonnes of Egyptian sunflower oil for delivery Oct. 1-20, the same as the international import tender.

Traders said that 3,000 tonnes of Egyptian-produced soyoil was bought in the local tender from Multitrade at 19,750 Egyptian pounds ($1,261) a tonne, although local trade sources said the deal was based on the level of $1,252 a tonne.

No offers for locally-produced sunflower oil were reported. ($1 = 15.6500 Egyptian pounds)

(Reporting by Nadine Awadalla in Cairo Additional reporting by Michael Hogan in Hamburg Editing by David Goodman) ((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters Messaging: michael.hogan.thomsonreuters.com@reuters.net))


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