Sales of the upcoming wheat crop in Argentina are currently the slowest in seven years, reports Apkinform according to Reuters. Thus, according to the official estimates, as of September 13, the […]
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Category: Policy & Business News
![Egyptian GASC Tender Overview The Egyptian state operator, GASC, conducted an international tender on February 22 for the procurement of vegetable oils, amidst a backdrop of declining global prices. The tender aimed at securing oils for delivery in April, with payment terms set at 180 or 270 days post the opening of the letter of credit. Price Movements Compared to the previous tender in January, offer prices for sunflower oil decreased, ranging from $957 to $985(€884-€909) per ton C&F with a 180-day payment window, and from $974 to $1010(€889-€932) per ton C&F with a 270-day payment window. Meanwhile, soybean oil offers increased slightly, with prices ranging from $1000 to $1050 (€923-€969) per ton C&F for 180-day payment terms, and from $1025 to $1075 (€946-€992)per ton C&F for 270-day payment terms. Tender Outcome Among the submitted offers, soybean oil from Green Suppliers at $1000 (€923)/t C&F and sunflower oil from ADM at $957 (€884)/t C&F emerged as the most competitive. GASC finalized the purchase of 60.25 thousand tons of sunflower oil with a 180-day payment term, priced at $920/t(€849) C&F, reflecting a $20/t (€18,47)increase compared to the January tender. Market Response Following the tender, prices of sunflower oil for immediate delivery experienced a slight decline to $815/t(€752), driven by heightened offers from Ukraine and Russia, alongside decreasing soybean and soybean oil prices. Ukraine notably increased its sunflower oil exports by 49% compared to the previous week, contributing to a significant portion of the global market supply. The recent tender by Egyptian GASC underscores the intricate interplay between global price trends and procurement strategies in the vegetable oil market. With prices fluctuating amidst shifting supply dynamics, stakeholders remain vigilant for further developments that could influence market conditions in the coming weeks. [cmb_chart ids=766] [cmb_chart ids=767] For improved website design , harvest information , statistics , please subscribe CMBroker [stc-subscribe] Egyptian Gasc Procures Sunflower Oil at Premium Amidst Global Price Shifts](https://commodity-board.com/wordpress/wp-content/uploads/2023/09/Egyptian-Gasc-Bought-Sunflower-Oil-10-Cheaper-Than-the-Previous-Tender-360x270.png)
Egyptian Gasc Bought Sunflower Oil 10% Cheaper Than the Previous Tender
On September 21, the Egyptian state operator GASC held international and local tenders for the purchase of 30,000 tons of soybean oil and 10,000 tons of sunflower oil with delivery […]
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Onion Traders in Nashik Declare Indefinite Strike as Export Duties Soar
The Indefinite Auction Freeze Onion traders in Nashik district, Maharashtra, have taken a significant step by indefinitely suspending auctions in all Agricultural Produce Market Committees (APMCs). This move has raised […]
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Temporary Corridor: Negotiations on Vessel Freight Intensified
Agricultural exports by river and sea transport as of September 19 amounted to 2.2 million tons. As Spike Вrokers analysts report, the current pace indicates an expected absolute record for […]
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Ukraine to Ban Imports of Fruits and Vegatable From Poland
Ukraine is preparing a ban on imports of fruits and vegetables from Poland in response to the Polish government’s decision to extend restrictions on Ukrainian goods despite the European Commission’s […]
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Vineyards: Fungal Diseases and Extreme Weather Conditions
This year, fungal diseases have affected vineyards and, together with extreme weather conditions, this could lead to a 12% drop in Italian wine production. Also, the decline in consumption may […]
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Severe Heat in Brazil Poses a Risk to Soybean Crops
Soybean crops in Brazil could be seriously affected by the severe heat this week. The thermometer column in the coming days, according to the forecast of local meteorologists, will rise […]
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Ukraine Filed a Legal Action at the WTO Against Poland, Slovakia and Hungary
In accordance with the Agreement on rules and procedures for the settlement of disputes of the agreement establishing the World Trade Organization, Ukraine submitted requests for holding consultations with Slovakia, […]
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India’s Bold Vision to Revitalise Traditional and Explore New Frontiers of Coffee
India Aims to Double Coffee Production in a Decade India’s Coffee Board has unveiled an ambitious plan to double the country’s coffee production within the next 10 years. The strategy […]
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Bulgaria Is Not Going to Continue the Ban on Grain from Ukraine
The Committee on Economic Policy and Innovation of the Parliament of Bulgaria has adopted a draft decision opposing the continuation of special measures on certain goods originating in Ukraine after […]
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