Argentina and Brazil exports of soybean oil to Egypt up 120%

Argentina and Brazil are making big sales as Egypt begins to buy large quantities of soybean oil from the South American countries in place of the more expensive sunflower oil. Oil analyzers Oil World says Egypt could import 290 thousand tons of soybean oil from January to May of 2011, compared to 157 thousand tons in the same time frame last year. The export of soybean oil from Argentina and Brazil to Egypt this past April hit a record of 99 thousand tons compared to 42 thousand in March and 45 thousand in April last year. Argentinean soybean oil costs $40 less a ton than sunflower oil, according to Oil World figures per ambito.com.
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