In an international purchasing practise, Egypt’s General Authority for Supply Commodities (GASC), which purchases grains, announced on Saturday that it was looking for vegetable oils for delivery between November 25 and December 10.
It further stated that letters of credit would be used by merchants to submit payment bids for a 180-day period, with Tuesday, October 4th, set as the submission date.
The authority also put up a plan today to buy local vegetable oils, with a minimum of 3,000 tonnes of soybean oil and 1,000 tonnes of sunflower oil, for delivery between December 1 and December 15. This is granted that the deadline for submitting bids is likewise the fourth of October.
Egypt adopts a common practise for the acquisition of vegetable oils internationally.
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