MARKET DEVELOPMENT
India\'s PEC Cancels Tender To Import Crude Palm Oil - Sources
India\'s PEC Cancels Tender To Import Crude Palm Oil - Sources
14/08/2012 (Reuters) - India's PEC Ltd has cancelled a tender to buy 3,000-6,000 tonnes of crude palm oil of Indonesian or Malaysian origin, trade sources said on Monday.
PEC was seeking the quantity on behalf of a private party for delivery on the east coast, the sources said. They did not give the reason for the cancellation.
The state-run firm regularly buys vegetable oils on behalf of provincial governments for public distribution. It also occasionally buys for private parties.
It had floated the tender last month with Aug. 13 as the last date for submitting bids.