PEC invites Bids For Import Of 15,000 Tonnes Of Palmolein.

State-owned trading firm PEC has invited bids for the import of 15,000 tonnes of RBD palmolein for sale in the domestic market.

The bids will close on May 12 and a decision on awarding the contract will be taken on the same day, the company said on its website.

The company has sought delivery of the consignment at the Chennai and Tuticorin ports in equal quantity (7,500 tonnes) from Indonesia and/or Malaysia, it added.

RBD palmolein is a refined, bleached and deodorised (RBD) form of palm oil that is extracted after crushing palm fruit. It is used as an edible cooking oil. Besides palmolein, palm oil also gives margarine and shortening, which are bakery fats.

MMTC, PEC and STC import edible oils on behalf of the government for distribution through ration shops.

India imported over nine million tonnes of vegetable oils in the 2009-10 oil year (November-October), which is more than 50 per cent of its total domestic requirement.

The country imports palm oil from Indonesia and Malaysia and soyabean oil from Argentina and Brazil.

At present, there is zero duty on import of crude edible oils and 7.5 per cent on refined edible oils.

Source : in.news.yahoo.com