NEW DELHI: In a move that could sully India’s image in the international market, top vegetable oil supplier, Indonesia, has accused 30 Indian companies, including Nafed, of taking it for a ride.
What’s worse, some of these defaulters are allegedly using public sector companies MMTC, PEC and STC to import oil on their behalf.
Indonesia has, therefore, asked the PSUs to stop “encouraging” these private players and blacklist them to avoid ending up with a similar payment problem. Nafed, a co-operative under the ministry of agriculture, has been importing vegetable oil on behalf of the government for supply through ration shops.
Indian importers are learnt to have been reluctant to pick up expensive cargoes after global palm oil prices crashed last month.
According to Indonesian industry, the list of Indian defaulters includes Nafed, JMD Oils and Fats, Bhatinda Oils and Fats, Kundan Oils and Fats, Raj Agro Oils, Gujarat Spices, Puneet and Company, Sarda Agro, Sudhir Agro, NCS Hyderabad, Mahesh Agro, Golden Oils Kolkata, Coastal Energy, Pradyhuman Overseas, Sara International, Dudhadhari Exports, DDI (Tower International), Budge Budge Refineries, Indumati Refineries, Shree Ganesh Oils, Velani Traders and Sheetal Industries.