India's MMTC buys 22,500 T RBD palmolein at $821/T-sources

Last Updated: Wed, Dec 05, 2012 10:10 hrs

NEW DELHI, Dec 5 (Reuters) - India's MMTC Ltd has bought 22,500 tonnes of RBD palmolein at $821 per tonne, including cost, insurance and freight, trade sources said on Wednesday, lower than the last known price paid by another state-run trading company.

The cargoes, purchased on behalf of Andhra Pradesh state, will be delivered on the east coast by Dec. 21.

On Nov. 27, MMTC had issued an import tender seeking 48,000 tonnes of refined, bleached and deodorised (RBD) palmolein.

State-run trading companies such as MMTC and PEC regularly buy cooking oils on behalf of state governments for cheaper supplies to the poor.

Last month, PEC bought 8,000 tonnes of RBD palmolein at $826 per tonne on behalf of Tamil Nadu state.

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 Mayank Bhardwaj)

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