Pakistani firm accepts offers for 4,250 tonnes soy
KARACHI,9/17/2001(Business Recorder) - The Trading Corporation of Pakistan(TCP) has accepted offers for 4,250 tonnes of imported soybean oil, worth$36,505. The reserve price of the soybean oil was fixed at $36,505. Aspokesman of the TCP said that 30 lots of different weights of edible oilwere sold to various parties at the auction which was held at the TCP headoffice on Thursday.He said that 14 lots of 50 tonnes, 3 lots of 100 tonnes and 13 lots of 250tonnes of soybean oil were sold to the successful bidders.The TCP had floated a tender for the auction of 7,500 tonnes of importedsoybean oil last week. The edible oil is stored in different terminals ofthe Karachi Port.This was the third auction of the soybean oil, which was received lastmonth under the aid programme PL-416 (B) from the United States of America(USA).The corporation had earlier sold 8,700 tonnes at Karachi and 4,000 tonnesat Lahore.The US government will supply 75,000 tonnes of soybean oil and 165,000tonnes of soybean, worth $80 million, to Pakistan under the PL-4168programme.