NEW DELHI, April 24 India's MMTC Ltd
has bought 30,000 tonnes of RBD palmolein at $1,187 per tonne,
two trade sources said on Tuesday, a tad lower than the last
known price paid by the state-run trading company.
The price includes cost, insurance and freight.
While cargoes of 18,000 tonnes would be delivered on India's
east coast, the rest would be delivered on the west coast, the
sources said. The deliveries would be completed by the first
week of May.
The company regularly buys cooking oils on behalf of state
governments for subsidised sale.
MMTC had issued import tenders seeking these quantities
earlier this month.
While the southern Indian state of Andhra Pradesh would take
the east coast deliveries, Gujarat, in western India, will claim
Last month, MMTC bought 12,000 tonnes of refined, bleached
and deodorised (RBD) palmolein at $1,189 per tonne for delivery
by April 5 on the east 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 Malini Menon)