| "Nafed's technical tender has received about 34 financial bids. The evaluation committee will be considering the matter and consequently the names of the companies those qualified will be disclosed," a senior official said. |
| "There is no predetermined number of qualified bids. The decision will be taken by the evaluation committee," the official said. |
| The federation intends to issue tenders to process about 4 lakh tonne mustard to oil, managing director Alok Ranjan had earlier told Business Standard. |
| "We will be producing about 1.3-1.4 lakh tonne of mustard oil and sell it by reviving our Nafed brand," Ranjan said. |
| The federation's proposal to relaunch of its mustard oil brand has already been cleared by the agriculture ministry. With the federation being the only one in the market with such a huge stock, its mustard sale has picked up since the last one month. It has sold about 90,000 tonne of the commodity and is getting a price of Rs 1,655-1,660 per 100 kg. |
| Till the next mustard crop arrive, the total mustard sale by Nafed has been pegged at around 8-9 lakh tonne, thereby leaving the federation with a huge carryover stock (of about 15-15 lakh tonne), another official said. |
| Market players expect the demand for mustard to come in despite huge import of other edible oils. This is largely due to a degree of non-exchangeability element with respect to mustard's pungency and colour. |
| This financial year Nafed's mustard procurement is at an all-time high of 20.9 lakh tonne at a minimum support price of Rs 1,700 per 100 kg. The procurement was made under the Centre's price support scheme. The government had initiated the procurement in a bid to support prices following a bumper crop. |
| As per official estimates, the country's total mustard output in 2004-05 (July-June period) is around a record 7.64 million tonne, up 23 per cent from a year earlier. Industry estimates, however, peg output at 6.4 million tonne. |
Top Section
Explore Business Standard