State-owned trading firm STC has invited bids to import 6,000 tonnes of RBD palmolein for sale in the domestic market.
The bids will close on March 10 and a decision on awarding the contract would be taken on the same day, STC said on its Web site.
The consignment is to be delivered at the Mumbai port and the import of palmolein should be from Indonesia and/or Malaysia, it added.
RBD palmolein is refined, bleached and deodorised form of palm oil, which is extracted after crushing palm fruit.
The Finance Minister, Mr Pranab Mukherjee, while the presenting the Union Budget 2011-12 had proposed an allocation of Rs 300 crore to bring 60,000 hectares land under palm plantation so as to increase palm oil production by about 3 lakh tonnes annually in five years.
India is one of the world’s largest importer of edible oil. The country imports palm oil from Indonesia and Malaysia.
Domestic production of edible oil meets only about 50 per cent of the demand. The gap is met through imports.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.