Bloomberg News

Eygpt’s FIHC Buys Soybean Oil, Sunflower Oil at Tender Today

February 22, 2012

(Updates with additional soybean oil in last paragraph.)

Feb. 22 (Bloomberg) -- Egypt’s state-run Food Industries Holding Co. bought 6,300 metric tons of soybean oil and 23,000 tons of sunflower oil in a tender today, Abdel Sattar Soliman, the company’s vice chairman, said.

The company, known as FIHC, paid 7,275 Egyptian pounds ($1,205) a metric ton from Wataneya, for the soybean oil, he said by phone today from Cairo. It also bought 13,000 tons of sunflower oil at $1,179 a ton from Toepfer and 10,000 tons of sunflower oil at $1,185 a ton from Nidera, he said.

FIHC bought an additional 300 tons of soybean oil, bringing the total to 6,300 tons, Abdel Sattar later said.

--Editors: Claudia Carpenter, John Deane

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

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


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