The purchase price of sunflower oil in Egypt decreased by 15 $/t

the Egyptian State Agency GASC September 5, acquired at the tender 112 thousand tons of vegetable oils, including 90 thousand tons of soy and 22 thousand t sunflower. The purchase price was 2.3% lower than at the August tender, because the new sunflower harvest from the black sea puts pressure on prices.

Party sunflower oil 22 thousand t October 25 – November 11, GASC bought the company Hakan at a price of 740 $/t CFR Egypt, at us $6/tonne lower from the initial offer and $15/ton lower than the price purchased on August 22 the company ADM 12 thousand tons of oil.

Two batches of soy oil by 30 thousand t delivery 10-25 Oct was acquired at the company Hakan at a price of 715 $/t CFR, which is in the $7/tonne lower from the initial proposal. At that price 715 $/t CFR were purchased 30 thousand tons of soybean oil from ADM company delivery October 25 – November 11. The purchase price was $23/t higher than at the previous auction in July, when GASC has purchased 30 thousand tons of soybean oil have a Aston for the price of 692 $/t CFR.

the Increase in prices of palm and soybean oil supported prices for sunflower oil, but a large crop of sunflower in Ukraine and Russia and an increase in the supply of sunflower oil on world markets continue to put pressure on prices.