Last Updated :
18 November 2009 at 14:50 IST
India’s PSUs seek more time on rice import bids
NEW DELHI (Commodity Online): Amid the anticipation of further prices rise of rice in the global market, Indian trading corporations have sought permission for the extension of the bids to import rice.
India’s MMTC, STC and PEC have asked the Central government the permission to extend bids that issued in the last month. However, the government has not taken any decision in this regard.
The validity of the bids for MMTC and STC tenders are due to lapse Tuesday, while the one issued by PEC Ltd. was to expire Monday. There is also an uncertainty, whether the bidders would agree to maintain prices at levels quoted for the tenders.
International rice prices have already surged in anticipation of Indian imports, which will be the first in 21 years.
The government is considering rice imports because drought earlier in the year is expected to have lowered summer- sown rice output to 69.45 million metric tons in the fiscal year ending March 2010, from 84.58 million tons a year earlier.
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