Syria’s General Organization for Food Industries recently concluded a contract with the Egyptian Holding Company, under which 5,000 tons of edible oils and 20,000 tons of cottonseed oil would be exported to Egypt this year.
Under the terms of the deal, the per ton price of oil was set at $400, compared to the international market price which stands at $385, according to Turkish and Malaysian price lists. The contract was signed in bid to resolve the Syrian edible oils warehousing problem, Al-Baath quoted Khalil Jawad, head of the Syrian company, as saying.
Jawad added that another inventory surplus—that of dried onions—recently found a market in Germany, where 1,471 tons were exported at a per ton price of $1,400. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
