Egypt’s Meditrade Is Said to Purchase Sunflower, Soybean Oil

Meditrade, an Egyptian private commodity trader, bought 43,500 metric tons of sunflower oil and 6,000 tons of soybean oil at auction, two traders involved in the tender said.

Meditrade, which buys the commodities on behalf of the Egyptian state, purchased 18,500 tons of sunflower oil at $1,190.90 a ton from Louis Dreyfus and 10,000 tons of sunflower oil at the same price from Nidera Inc., said the two traders, who spoke on condition of anonymity because they aren’t allowed to comment to the media.

The company also bought 15,000 tons of sunflower oil in today’s tender at $1,189 a ton from Toepfer International and 6,000 tons of soybean oil at 7,275 Egyptian pounds ($1,205) a ton from Alex Seeds, according to the traders.

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

To contact the editor responsible for this story: John Deane at jdeane3@bloomberg.net

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