Egypt's GASC announces tenders for soyoil, sunoil in Feb-March

Egypt's state-backed oils buyer, the General Authority for the Supply of Commodities (GASC), has launched an international tender for vegetable oils with delivery in February or March after a near two-month break, local sources told Agricensus on Thursday.

GASC will consider proposals for the supply of at least 30,000 mt of soybean oil and 10,000 mt of sunflower oil for delivery from February 14 to 29 or for delivery from March 1 to 14, 2024.

The move came against the backdrop of falling prices for soybean oil and a narrowing spread between soybean and sunflower oils.

Offers are to be made on payment at sight basis and payment with 270-day supplier facilities while the tender is expected to close on Wednesday December 27.

GASC's most recent successful international tender, which closed in November, the agency booked 23,000 mt of soybean oil at $1,300/mt CFR Egypt from three international suppliers.

Delivery was for January and February. 

In addition, at the previous tender, the agenct booked 27,500 mt of sunflower oil from three different suppliers with delivery in February 2024 at $930/mt CFR Egypt.

At the same time, the last local tender was canceled.

Full details of recent GASC procurement can be found on the Agricensus Tender Dashboard.