EGYPT: SIIC cancels tender for 300,000 tonnes
Published: 03/11/2010, 12:23:45 PM
Egypt's state-owned Sugar and Integrated Industries Company (SIIC) said on Thursday that it had cancelled a tender to buy 300,000 metric tonnes of raw sugar for local consumption due to volatile prices, according to Reuters.
"The prices are not suitable for the local market," a company official, who declined to be named, told Reuters. "Global prices are still going down. We will wait until the prices are stable," he added.