MMTC buys 5,000 tonne chana from Singapore-based RV Intl

New Delhi, Aug 29 | Updated: Aug 30 2006, 05:30am hrs
State-run MMTC Ltd has bought 5,000 tonne chana from Singapore-based trading house RV International at $524-$529 a tonne, a government aide said on Tuesday. The chana would be delivered during November-December.

MMTC has decided to import only 5,000 tonne, though it had initially floated a tender to import 15,000 tonne chana. The state-run company had received 8 bids ranging between $524-$702 a tonne in its desi chana import tender earlier this month.

RV International had submitted the lowest bid for supplying 3,000 tonne at about $524 a tonne, but later agreed to increase the quantity to 5,000 tonne, the official said.

Hakan International, Ozi Pulses, LNJ International and MMTCs wholly-owned subsidiary MTPL were the other bidders. The official said none of the other bids were accepted as they quoted very high prices. The company, meanwhile, has no plans to float another tender to import the rest of the quantity, the official added.

This was the second tender floated by MMTC since last month to import pulses. In the first tender to import 110,500 tonne pulses, the agency had received four bids. All the bids, however, were rejected on the grounds that the prices quoted by the bidders were Rs 8,000-10,000 a tonne higher than domestic prices.

The tender floated by Projects and Equipment Corp. was also cancelled for the same reason.

The government had asked MMTC, Projects and Equipment Corp., and National Agriculture Cooperative Marketing Federation to import pulses at zero duty to ease supplies in the domestic market and curb soaring prices. Crisil MarketWire