Egypt’s GASC buys 84,500 mt of vegoils as prices fall

Egypt’s state buyer GASC bought 84,500 mt at tender on Thursday – its single largest volume in over a year – as global vegoil prices hover near two-month lows, market sources told Agricensus.

After skipping buying sunoil at its earlier March tender, GASC bought 32,000 mt at a price of $694/mt CFR Egypt, over $10/mt cheaper than the most competitive offer earlier in the month, and $4/mt cheaper than what it paid in February.

The volumes were split between two suppliers, with Aston supplying 17,000 mt and Hakan Agro the balance.

It also bought 52,500 mt of soyoil with 30,000 mt of overseas product supplied by ADM at a price of $676.5/mt CFR, down $8.5/mt from its January tender when it last bought imported soyoil.

The balance of the soyoil volume was supplied domestically at a price of EGP11,750/mt ($678/mt) down from the price of EGP12,460/mt ($713/mt) it paid at its previous tender.

Alex Seeds supplied 12,000 mt with 10,500 mt supplied by Wataniya/Cargill.

All volumes are for arrival May 1-20, apart from the overseas soyoil supplied by ADM which has a longer arrival period of May 1-31

More details of GASC’s vegoil tenders can be found on the Tenders Dashboard.