India asks state-run cos to stop edible oil imports

New Delhi: The Indian government has asked three state-run firms and a farm body to stop purchasing edible oil on its behalf as domestic prices are comfortable, a senior government source said on 7 November.

India, the world’s second-biggest vegetable oil importer, last month asked State Trading Corp, MMTC Ltd, PEC Ltd and the National Agricultural Cooperative Marketing Federation (NAFED) to import 1,25,000 tonnes of edible oil to meet demand during busy festivals.

Officials from NAFED, PEC and STC confirmed they had been asked to stop imports. Of 125,000 tonnes of planned imports, 38,500 tonnes have already been contracted, a government statement said.

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