Egypt’s strategic vegoils reserves sufficient for 6.7 months – minister

Egypt’s strategic reserves of vegetable oils are sufficient for 6.7 months of local consumption,said supply minister Ali Moselhy on Sunday.

The General Authority for Supply Commodities (GASC) has recently bought 124,000 tons of vegetable oils in an international bid.

Traders said that the lowest bid offered in an Egyptian bid for vegetable oils was on Thursday with a value of $990 per ton, shipping included, for 5,500 tons of sunflower oil.

Soya oil was offered in the bid had a value of $1070 per ton, shipping included as well, according to the ministry’s statement.