State-owned trading firm PEC has invited bids for the immediate import of 1,500 tonne of crude degummed soybean oil (CDSO) in order to boost supply in the domestic market.
The bids would close on May 23 and a decision on the tender would be taken on the same day, the company stated on its website.
According to PEC, the commodity is for immediate shipment and its landing port is Kandla, in Gujarat. The company said the bidders should source the soybean oil from either Argentina or Brazil.
CDSO is a product obtained during soybean processing into proteinaceous products for the food and feed industry. It is used as an edible oil.
According to industry experts, the total imports of vegetable oils during the current oil year (November to October) would be about 8.7-8.8 million tonne, as against 9.24 million tonne in the year-ago period.