November 10, 2004
Egypt FIHC Buys 32,000 MT Soy Oil, Palm Oil at Tender
Egypt's state-run Food Industries Holding Company, or FIHC, bought 32,000 metric tons of soy oil and palm oil mostly for last half of December arrival on a cost and freight basis in its tender Tuesday, according to participating traders.
FIHC bought 10,000 tons +/-5% of soyoil from Bunge at $526.37/ton for last-half December arrival and 15,000 tons +/-5% of palm oil from Kouk at $441.88/ton for last-half December arrival.
FIHC also bought 7,000 tons +/-5% of locally crushed soyoil from Cargill Egypt at 3,335 Egyptian pounds ($=EGP6.23) per ton for immediate delivery.
FIHC was seeking 10,000-15,000 tons of soyoil, 10,000-15,000 tons of sunoil and 10,000 tons of palm oil.