MUMBAI – India has reduced the base import prices of crude palm oil, soyoil, gold and silver, the government said late on Wednesday.
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, the world’s biggest edible oils importer, last month allowed duty-free imports of 2 million tonnes of soyoil.
Commodity New price in $ Old price in $
Crude palm oil 1,620 1,625
RBD palm oil 1,757 1,733
RBD palmolein 1,767 1,744
Crude soya oil 1,831 1,866
Gold 585 597
Silver 695 721
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.
(Reporting by Rajendra Jadhav; Editing by Mark Heinrich)