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Gargi Shah

Mumbai, Oct. 22 The National Agricultural Cooperative Marketing Federation of India Ltd (Nafed) will explore opportunities on a daily basis to buy crude palm oil in the international market.

“We will enter into import contracts on a commercial basis. The Government will not subsidise our commercial operations,” Mr Alok Ranjan, Nafed Managing Director, told Business Line adding that there will be no tenders and purchase decisions will be made on basis of rates quoted.

As for the quantum of imports, he said there was no predetermined quantity. “If the imports are viable to us, we may import more than 15,000 tonnes,” said Mr Ranjan. Recently Nafed scrapped a tender for import of 15,000 tonnes of CPO as there was only one bidder. The agency has now changed its buying system.

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