PEC invites bids to import 24,000 tonnes of soyabean oil

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

15 May 2008

In order to boost the domestic supply, state-run trading company PEC Ltd has invited bids to import 24,000 tons of crude degummed soyabean oil to be delivered in June. The bids would close on May 12 and the decision on the tender would be taken on the same day, the company said on its website. The government recently decided to import one million tons of edible oil during 2008-09 fiscal via state trading agencies -- MMTC, PEC, STC and Nafed -- to supply oil to people through the public distribution system. So far, MMTC and STC have floated tenders to buy 44,000 tons and 24,000 tons of edible oil respectively from overseas market.
PEC said that it plans to import crude degummed soyabean oil from Argentina and Brazil.
"It is importing on behalf of itself, PEC, State Trading Corporation, and National Agricultural Co-operative Marketing Federation (NAFED)," it said.
According to the tender, the bidder should deliver 12,000 tons of edible oil at Kandla and Mundra ports, while another 12,000 tons at Kakinada between June 1-30.
"Bidders should bid for the entire quantity and they can also quote for additional quantity", the company added.

Source: The Hindu