On December 26, a tender will be held in Egypt for the purchase of 40,000 tons of vegetable oil (30,000 tons of soybean oil and 10,000 tons of sunflower oil ) with payment within 180 days. This is reported by market operators with reference to the information of the country’s state agency for food purchases GASC.
According to the terms of the tender, the supply of oils to the importer should be carried out from February 5 to February 25, 2023.
Recall that on November 22, GASC contracted 65.75 thousand tons of sunflower and soybean oil at a significantly lower price than at previous auctions. 7 bids were submitted for the tender for the supply of sunflower oil in batches from 5.75 thousand tons to 15 thousand tons at a price of 1406-1465 $ / t C&F (at the end of October the cost was 1425-1497 $ / t), as well as 4 applications for the supply of soybean oil: batches from 8 to 30 thousand tons at a price of 1496-1520 $/t C&F (at the last auction the product was offered at 1600 $/t C&F).
As a result, GASC purchased 30.75 thousand tons of sunflower oil and 27 thousand tons of soybean oil. Delivery to the importer should occur in January 2023.
In the structure of consumption of edible oils in Egypt, about half is sunflower oil, which is used daily by most households. Domestic sunflower production is low, so private processors rely on imported raw materials.