BackIndia sharply raises base import price of palm oil
Amid soaring prices of crude oil in the global markets, India also decided to raise the base import price of crude and refined palm oil
PremiumIndia sharply raised the base import prices of crude and refined palm oil and crude soya oil, the government said in a statement on Monday, as prices jumped in the world market.
The government revises base import prices of edible oils, gold and silver every fortnight, and the prices are used to calculate the amount of tax an importer needs to pay.
India is the world's biggest importer of edible oils and silver and the second-biggest consumer of gold.
Commodity New price in $ Old price in $
Crude palm oil 952 858
RBD palm oil 962 905
RBD palmolein 971 934
Crude soya oil 1,345 1,274
Gold 531 531
Silver 630 629
Base prices for all commodities are in $ per tonne, except for gold and silver. The gold tariff is in $ per 10 grams and silver in $ per kg.
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This story has been published from a wire agency feed without modifications to the text.
