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India MMTC buys 12,000 T RBD palmolein at $1,189/T-sources
March 20, 2012 / 10:19 AM / 6 years ago

India MMTC buys 12,000 T RBD palmolein at $1,189/T-sources

NEW DELHI, March 20 (Reuters) - Indian state-run firm MMTC Ltd has bought 12,000 tonnes of RBD palmolein at $1,189/tonne, two trade sources said on Tuesday, higher than the last known price paid by another state-run company.

They said the cargoes were to be delivered on the east coast by April 5. The price includes cost, insurance and freight.

MMTC had issued the import tender last week. ID:nL4E8EC48B]

MMTC regularly buys cooking oils on behalf of the southern state of Andhra Pradesh’s government for subsidised sale.

Last week, PEC bought 9,000 tonnes of RBD palmolein at $1,172 per tonne for delivery in March on the south coast.

India, the world’s top vegetable oil importer, buys mainly palm oils from Malaysia and Indonesia, and a small quantity of soyoil from Brazil and Argentina. (Reporting by Ratnajyoti Dutta; Editing by Jo Winterbottom)

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