MMTC gets bids for 15,000-tn pulses import tender

NEWS DIGEST

MMTC has received three bids for its tender for import of 15,000 tonne pulses, an industry official said today. The state-run trading firm had floated a tender last month to import 5,000 tonne each of urad, moong and tur for February delivery.

However, the company is likely to buy only 2,000 tonne pulses of the total 15,000 tonne tendered, an official close to the deal said. The official said MMTC's Singapore-based subsidiary MTPL has offered 5,000 tonne tur at $405-446 per tonne, cost and freight, 5,000 tonne urad at $697-700 per tn and 5,000 tonne moong at about $670 a tonne.

MTPL is the only company that has offered the entire quantity tendered for. Myanmar-based PL Global has offered smaller quantities of urad at $760 per tonne and tur at $380 a tonne, both on free on board basis.

Dubai-based Agricommodities has offered only tur at $412 a tonne, cost and freight.The official said MMTC is likely to buy 1,000 tonne moong from MTPL and 1,000 tonne tur from Agricommodities.

Tyre manufacturers to import 40,000 tonne of natural rubber

Indian tyre manufacturers will import 30,000 to 40,000 tonne of natural rubber over the next three months, the Automotive Tyre Manufacturers Association said in a statement on Thursday.

The first consignment was due to reach India by the third week of this month, it said, but did not identify the country the shipment was coming from.

The association also asked the government to reduce the import duty on natural rubber to 10 percent from 20 percent to cushion manufacturers from a rise in prices.

The Indian tyre industry annually consumes 440,000 tonnes of natural rubber, which accounts for over 40 percent of the cost of production.

Malaysian palm oil futures dip 2 per cent

Malaysian palm oil futures slipped 2 per cent in morning trade on Thursday, pulled down by a decline in rival soyoil and improving weather in the flood-hit areas of the country.

The benchmark third-month March contract on the Bursa Malaysia Derivatives exchange was down 40 ringgit at 1,922 ringgit ($547) a tonne at the midday close.