26/07/2008 (Bloomberg) - PEC Ltd., a state-run Indian trading company, called for bids to import 12,000 metric tons of palm oil to sell to the nation's poor at below market prices.

PEC is seeking refined bleached and deodorized palm oil for delivery between September and October at Chennai, Tuticorin, Paradip, Mangalore or Kandla ports. Suppliers have until 11:30 a.m. on July 30 to submit offers, according to PEC Web site.

India, the biggest buyer of vegetable oil after China, will sell 1 million tons of imported edible oil through so-called ration shops at subsidized rates in year to March 31, 2009, the food ministry said last month.

India buys palm oil from Indonesia and Malaysia, the biggest producers, and soybean oil from Argentina and Brazil.