Egypt's FIHC buys 25,000 tonnes edible oil

Egypt's state-owned Food Industries Holding Company (FIHC) bought 25,000 tonnes of edible oil for arrival in the first half of March, traders said on Wednesday. Of the total, FIHC purchased 15,000 tonnes of soyoil from Louis Dreyfus at $881 a tonne and 10,000 tonnes of sunflower oil from Nobel at $887 a tonne, traders said. The oil was all bought on a cost and freight basis. Privately-owned Meditrade also said on Wednesday it was seeking at least 30,000 tonnes of edible oil for arrival during the second half of March or the first half of April. Meditrade was looking to buy 15,000 to 20,000 tonnes of soyoil and 15,000 to 20,000 tonnes of sunflower oil, vice chairman Hisham Amin said. The deadline for bids is February 16. Privately-owned Meditrade tenders on average once a month to buy vegetable oil on behalf of the state-owned General Authority for Supply Commodities (GASC).