Egypt's GASC cancels tender for at least 50,000 tons of raw sugar

Cairo, 27 April 2017: Egypt's General Authority for Supply Commodities (GASC) has cancelled a purchase tender for at least 50,000 tones of raw sugar, it said on Thursday.

The deadline to submit offers had been April 26 with an arrival date up to June 15.

One sugar trader said the cancellation was likely the result of a sudden drop in sugar prices on Wednesday by about $15, whereas bids submitted in the tender were based on the previous day's closing price.