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MMTC invites bids for import of three lakh tonnes of DAP

20 Sep 2011 Evaluate

Minerals and Metals Trading Corporation (MMTC), a state-owned trading firm, has invited bids for the import of three lakh tonnes of di-ammonium phosphate (DAP). The company has taken this step with a view to augment fertiliser supply in the upcoming rabi season.

The company has announced September 20 as the last date for submission of bids and it would take decision on the same day for awarding the contracts. The full consignment of DAP (bulk)/DAP Lite grades is to be shipped during September-November, 2011. The consignments are to be offloaded at the Mundra, Kandla, Vizag, Hazira (anchorage), Kakinada (deep water) and Krishnapatnam ports.

From November onwards the rabi season starts and harvesting is done during March-April. The important rabi crops are wheat, gram, barley, peas and mustard. In the April-July period of the current fiscal, India imported 20.16 lakh tonnes of DAP, while inbound shipments in the 2010-11 fiscal stood at 74.11 lakh tonnes.

Recently, the company’s gold import for August had been dropped by an eighth to 5 tonnes. This can be attributed to the fact that gold buyers in India, the world's biggest consumer, are in wait-and-watch mode as the prices remain near record high. MMTC is the country's second biggest importer of the yellow metal.

MMTC is one of the leading companies in India which deals in agricultural commodities, fertilizers and minerals. Besides, it is also an importer of gold and silver. Presently, the trading company has an overseas office in Singapore. PEC, MMTC and other state-run trading agencies like STC import different varieties of pulses on behalf of the government to augment domestic supply.

MMTC Share Price

66.71 -0.99 (-1.46%)
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Company Name CMP
Redington 218.75
Adani Enterprises 2500.05
Amrapali Industries 17.50
Rashi Peripheral 544.25
PDS 291.50
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