Egypt's FIHC buys 21,000 tonnes of edible oils

Egypt’s FIHC buys 21,000 tonnes of edible oils

Egypt's state-owned Food Industries Holding Company (FIHC) bought 15,000 tonnes of sunflower oil and 6,000 tonnes of soybean oil in tender, traders said on Tuesday.

August 15, 2012 12:02 by Reuters

Egypt’s state-owned Food Industries Holding Company (FIHC) bought 15,000 tonnes of sunflower oil and 6,000 tonnes of soybean oil in tender, traders said on Tuesday.

The sunflower oil was bought from Toepfer at $1,212 per tonne on a cost and freight basis. It is due for arrival between Sept. 10 and Sept. 30, traders said.

The soybean oil was bought from National Vegetable Oil Company at 7,500 Egyptian pounds ($1,200) per tonne and is due for delivery Sept. 1-30, traders said.

Traders said the offers in the tender included the following, all in dollars per tonne, unless otherwise stated:

*Louis Dreyfus 18,500 tonnes of sunflower oil at $1,219

*Glencore 9,000 tonnes of sunflower oil at $1,224.50 and/or

9,000 tonnes of sunflower oil at $1,230.01 and/or 9,000 tonnes of sunflower oil at $1,232.50 and 25,000 tonnes of soybean oil at $1,237.34

*Toepfer 15,000 tonnes of sunflower oil at $1,212

*National Vegetable Oil Company 6,000 tonnes of soybean oil at 7,550 Egyptian pounds

($1 = 6.0748 Egyptian pounds)

(Reporting by Yasmine Saleh, additional reporting by Michael Hogan in Hamburg; and Maha El Dahan in Abu Dhabi, editing by Jane Baird)