Egypt’s SIIC Buys 50,000 Metric Tons of Raw Sugar in Tender

Egypt’s Sugar and Integrated Industries Co. bought 50,000 metric tons of raw sugar from the 150,000 tons for which it tendered, said Ramadan Suleiman, the company’s purchasing manager.

The Cairo-based company purchased the sugar for July arrival at $628 a ton from Eridania, with the cost of insurance and freight included, Suleiman said by phone today from the Egyptian capital.

Prices at which supplies were offered were “high,” and the company may tender again next month, Hussein Ahmed, another purchasing official at the company, said in an interview.

(Source: http://www.bloomberg.com/news/2011-04-14/egypt-s-siic-buys-50-000-metric-tons-of-raw-sugar-in-tender-1-.html)