Wednesday, September 24, 2008

Breaking News-RTRS-Indian palm oil importers face Malaysian ire-paper

NEW DELHI, Sept 23 (Reuters) - Indian traders who reneged on contracts to buy Malaysian palm oil after prices fell are sourcing the cooking medium indirectly from state trading agencies, evoking protests from a Malaysian firm, the Hindu Business Line newspaper reported on Tuesday.
The Malaysian company, which was not named, has written to state-owned Indian trading firms like MMTC Ltd , State Trading Corp of India and PEC Ltd saying they should not allow defaulters to buy imported oils, the daily said.