Kamis, 05 Februari 2009

PalmoilHQ India’s MMTC imports 12,000 tonnes palmolein

India’s MMTC Ltd has imported 12,000 tonnes of RBD palm olein at $580 per tonne, its first overseas purchase of the cooking medium in three months, a government source said.

Late last month MMTC had floated the tender to import 30,000 tonnes of RBD palm olein but decided to buy only 12,000 tonnes, the official, who did not wish to be identified, told reporters on Wednesday.

A global trading firm offered the lowest rate among four bidders and the highest bid was for $680 per tonne, he said.

He said MMTC had imported the RBD palmolein on behalf of the southern state of Andhra Pradesh.

India, the world’s biggest vegetable oil importer after China, imports almost half of its annual consumption of about 11 million tonnes in the form of palm oil from Malaysia and Indonesia, and soyoil from Brazil and Argentina.

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