Egypt seeks palm oil

31 Mar, 2004

Egypt's state Holding Company for Food Industries (HCFI) said on Tuesday it was seeking 15,000-20,000 tonnes of Malaysian or Indonesian palm oil for arrival in the second half of May.
An HCFI official also told Reuters the company was seeking 5,000-7,500 tonnes of international palm stearin, which is used to make soap, for arrival in the second half of May.
Bids are due by noon (1000 GMT) on Wednesday, April 7 with prices quoted C&F for arrival in the Mediterranean port of Alexandria.
On March 23, HCFI cancelled a tender for 5,000-7,500 tonnes of palm stearin because the prices offered were too high, but it bought 15,000 tonnes of Malaysian and Indonesian palm oil from Intercontinental at $585 a tonne for May delivery.
Palm oil is used to make margarine, which is one of the items the government is adding to a subsidy ration card that previously covered sugar and vegetable oil.
Other items being added to the card from May include rice, lentils, tea and macaroni.

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