Bloomberg News

Egypt’s Meditrade Said to Buy 59,000 Tons of Vegetable Oils

November 01, 2011

(Updates with prices and names of suppliers starting in second paragraph.)

Nov. 1 (Bloomberg) -- Meditrade, an Egyptian private commodity buyer, agreed to buy 42,000 metric tons of sunflower oil and 17,000 tons of soybean oil, two traders involved in the tender said.

The company purchased 12,000 tons of sunflower oil at $1,125 a ton from Louis Dreyfus Group and a further 30,000 tons at the same price from Glencore International Plc, said the traders, who spoke today on condition of anonymity because they are not authorized to speak to the media.

Meditrade also made purchases from Egyptian companies. It bought 7,000 tons of soybean oil at 6,750 Egyptian pounds ($1,131) a ton from Wataniya and a further 10,000 tons at the same price from Alex Seeds, the traders said.

The vegetable oil, whose price includes cost and freight, is for arrival between Dec. 1 and Jan. 15, they said. Meditrade buys commodities on behalf of the Egyptian government.

--Editors: Sharon Lindores, Dan Weeks

To contact the reporter on this story: Ola Galal at ogalal@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.


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