Dubai: The General Authority for Supply Commodities (GASC), Egypt’s state grains buyer, announced on Monday that it is inviting tenders for the procurement of 50,000 tonnes of raw cane sugar and/or 50,000 tonnes of white sugar. The preferred packaging for white sugar is in 50-kilogram units, as specified in the statement, reported Reuters.
GASC further detailed that payment terms involve at-sight transactions, with funding facilitated through the International Islamic Trade Finance Corporation (ITFC). Offers are expected to be presented on a CIF (Cost, Insurance, and Freight) free-out basis, with the currency options being either Egyptian pounds or U.S. dollars, as outlined by GASC.
The deadline for the submission of offers is set for Saturday, January 6. Shipment arrival is anticipated between February 20 and March 5, and/or March 6-20, according to GASC’s statement.
This tender has been initiated by GASC on behalf of Egypt’s Holding Company for Food Industries, with representation by the Egyptian Sugar and Integrated Industries Company (ESIIC), which will be the recipient of the shipment.
