Minerals and Metals Trading Corporation (MMTC), a state-owned trading firm, has called bids for the import of 16,000 tonnes of edible oil RBD palmolein for sale in the domestic market. The last date for submitting bids is May 31 and a decision on awarding the contract will be taken on the same day.
Adding to this, the bidder should source the consignment of refined, bleached and deodorised (RBD) palmolein from Indonesia and/or Malaysia and it should reach the Kakinada port in Andhra Pradesh by June 7 at the latest.
MMTC, PEC and STC import edible oils on behalf of the government for distribution through ration shops. India imported over nine million tonnes of vegetable oils in the 2009-10 oil year (November-October), which is more than 50 percent of its total domestic requirement.
The company has posted a decline of 84% in its net profit of Rs 15.35 crore for the quarter ended March 31, 2011 as compared to Rs 98.95 crore for the quarter ended March 31, 2010. Its total income has increased from Rs 17399.37 crore for the quarter ended March 31, 2010 to Rs 21204.51 crore for the quarter ended March 31, 2011.
For the year ended March 31, 2011, the company has posted a net profit of Rs 112.77 crore as compared to Rs 216.24 crore for the year ended March 31, 2010, down 48%. Total income of the company has increased from Rs 45353.61 crore for the year ended March 31, 2010 to Rs 68859.82 crore for the year ended March 31, 2011.
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.
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