The Ministry of Supply and Internal Trade, represented by the General Authority for Supply Commodities, announced Practice No. 6 for the year 2023/2024 to supply local crude oil in pounds for the Holding Company for Food Industries (1000 tons of soybean oil, 500 tons of vegetable oil).
A statement issued by the authority indicated that offers are submitted for the whole or part of the quantity
Delivery from 5 to 20 October 2023 and/or from 25 October to 10 November 2023.
The authority added that the envelope opening and decision session will take place on Thursday, August 24, 2023 at twelve o’clock in the morning, at the headquarters of the General Authority for Supply Commodities in the government district of the Administrative Capital, in the building of the Ministry of Supply, third floor.
The rest of the conditions and specifications are according to the conditions and specifications brochure available at the Supply Commodities Authority.
The Minister of Supply and Internal Trade, Dr. Ali Al-Moselhi, stated that the strategic reserve of sugar is sufficient until next April, i.e. enough for 8 months.
With regard to oil, Al-Moselhi said that the oil reserves are sufficient for 3.9 months, noting that Egypt imports about 97% of its needs.
He pointed out that the prices of vegetable oil during the last period witnessed declines, while the prices of soybeans witnessed increases.
Regarding rice, Al-Moselhi said that the rice reserve is sufficient for 3.3 months, and it is offered at a price of 20 pounds per kilo in the complexes.
He stressed that the strategic reserve of wheat is sufficient for 4.7 months, and they are continuing to make tenders, stressing that the ministry will not allow the minimum to be reduced to 4 months, and we aim to increase it to 6 months.
With regard to poultry, Al-Moselhi said that frozen poultry is imported from Brazil due to its low prices due to the raising of customs between the two countries, noting that the ministry is seeking to strike a balance in poultry prices by including them among the commodities traded on the commodity exchange.
Regarding meat, Al-Moselhi confirmed that we have contracts that are sufficient for 18 months, and the door for importing with Djibouti has been opened, and about 2.3 months for frozen meat from India and Brazil.