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Breakdown Of Best Offers At Egypt FIHC Veg Oil Ten
calendar09-07-2004 | linkDOw Jones | Share This Post:

Tripoli, Libya, July 7 (OsterDowJones) - A tender Wednesday by Egypt'sFood Industries Holding Company, or FIHC, attracted the cheapest Augustarrival sunflower oil offer from Cargill for 3,000 metric tons at $581.90per ton cost and freight, a participating trader told OsterDowJones.Bunge made the best offer for first half of September arrival soyoilat $556.02/ton C&F for 15,000 tons and Kouk made the best offer for firsthalf of August arrival palm oil at $449.50/ton C&F for 15,000 tons, theCairo-based trader said.FIHC had delayed its tender for a total of 50,000 metric tons ofvegetable oils to Wednesday instead of Tuesday due to Monday's publicholiday in the U.S.Of the total, FIHC is seeking 20,000 tons of palm oil for first halfof August arrival, 15,000 tons of soyoil for first half of September and15,000 tons of sunoil for the whole of August arrival.Cargill also made at Wednesday's tender an offer for 15,000 tons ofsunoil at $596.90/ton but the trader said FIHC was likely to take smallerparcels from several companies at a better price.After Cargill's best offer of $581.90/ton C&F, Oleo Trading was thesecond best with its offer of 6,000 tons of sunoil at $582.95/ton C&F andToepfer third with an offer for 5,000 tons of sunoil at $585/ton C&F forAugust arrival.FIHC last tendered for palm oil June 15, securing 15,000 tons of palmoil from Malaysia's Felda at $462/ton C&F for July arrival.FIHC last bought sunoil in a tender May 4, securing 18,000 tons ofsunoil from Cargill at $649.90/ton C&F for first half of June arrival.It last bought soyoil in a tender March 10, securing 20,000 tons ofsoyoil from Bunge at $677.39/ton C&F.