Egypt's Meditrade Said to Buy 12,000 Tons of Soybean Oil

Meditrade, an Egyptian private commodity trader, bought 12,000 metric tons of soybean oil and 33,500 tons of sunflower oil at a tender today, two traders involved said.

Meditrade bought 18,500 tons of sunflower oil at $1,189.98 a ton from Nidera and 15,000 tons at the same price from Louis Dreyfus, the traders said. They spoke on condition of anonymity because they aren’t authorized to comment to the media. The company purchased 6,000 tons of soybean oil at 7,310 Egyptian pounds ($1,205) a ton from Alex Seeds and an equal amount at the same price from Wataneya, they said.

The vegetable oil is for arrival in August and September, they added.