Hamburg: Egypt’s state commodity buyer, the General Authority for Supply Commodities (GASC), purchased 250,000 metric tons of raw sugar in an international tender on Saturday at a price of $469.50 per metric ton CIF free out, traders said on Monday, reported Reuters.
While Egypt’s supply ministry confirmed the purchase of 250,000 tons on Saturday, it did not disclose the prices. The CIF terms include cost, insurance, and freight.
Traders noted that the sugar was purchased in five consignments of 50,000 tons each. One consignment for arrival between September 15-30 was bought from Tereos, and another for arrival between October 1-15 was bought from Dreyfus.
Additionally, one consignment each for arrival between October 15-31 was bought from Viterra, Dreyfus, and Cofco.
These reports are based on traders’ assessments, and further estimates of prices and volumes may emerge later.
