Palm | Kelapa Sawit

NEW DELHI, April 20 (Reuters) - Indian state-run trading firm PEC Ltd on Monday scrapped a tender to import 12,000 tonnes of crude palm oil due to a poor response, government sources said.
"Only one bid was received," a government official, who did not wish to be identified, told Reuters, adding that PEC normally awards a contracts if at least three bidders are in the fray.
A Malaysian firm offered to supply crude palm oil at $680 per tonne at the eastern port of Kakinada, another official said.
Indian traders said the cancellation of the tender may have weakened the market sentiment.
"This could be one of the main reasons for prices closing at a lower level from the day's high," said B.V. Mehta, executive director at the Solvent Extractors' Association of India (SEA), a leading trade body.