The loan will provide approximately 15 percent of its total annual needs in order to support the company to diversify its financing sources.
Egypt is one of the biggest markets for processing, exporting and growing herbs, with Upper Egypt providing the “ideal growing conditions.”
Ajwa is an Egypt-based company that operates in the manufacture and export of cooking oils and ghee.
Both also mulled methods of expanding the company’s business in Egypt, particularly in the fields of agricultural investment.
The deadline for offers is April 19 and traders should submit bids for payment at sight and 180-day letters of credit and GASC will choose.
World's second-largest exporter eager to diversify markets amid row with EU.
The oil industry in Egypt relies on importing about 96 percent of the oils used in production, and the 4 percent is provided locally, this will change
MOSC is an Egypt-based company engaged in the extraction and refining of oils from plants and animals, and the production of soap and detergents.
GASC added that traders should submit bids for payment via 180-day letters of credit and at sight; and it will choose between them.
Ali Al-Moselhi added, in his remarks on the sidelines of the inauguration of the Center of Excellence at the Cairo Chamber.
It is part of the state’s plan to increase its strategic stock of cooking oil to be sufficient for at least six months, the GASC added.
Under the first stage, a storage facility for Malaysian palm oil packaging will be established with investments of $10 million.
GASC received the lowest offer of 12,880 Egyptian pounds for 6,000 tonnes of soyaoil at a tender for local vegetable oils.
The report on global Sunflower Oil Market imparts the industry growth factors along with the current environment and expecting future trends.
The major restraints that are limiting the market are stringent rules for the product approval and high packaging and transport charges for exporting
Egypt’s state buyer GASC is seeking the vegetable oil for arrival Oct. 25-Nov. 10.
GASC will also accept offers of at least 10,000 tonnes of soyoil and 5,000 tonnes of sunflower oil in Egyptian pounds.
Wood vinegar has been produced for years across the globe, majorly in the Asia-Pacific region.
Cottonseed oil is extracted from the various species of the cotton plants seeds and then refined for use.
GASC is also looking for offers of at least 10,000 tonnes of soyoil in Egyptian pounds.