Last Update: October 01, 2022, 16:47 IST
India is the largest importer of edible oils in the world.
Government revises base import prices for edible oils, gold and silver every fortnight
India has reduced base import prices of crude and refined palm oil, crude soya oil and gold, the government said in a statement late Friday, as prices improved in the global market. The government revises the base import prices for edible oils, gold and silver every fortnight, and the prices are used to calculate the amount of tax to be paid to an importer.
India is the world’s largest importer of edible oils and silver and the second largest consumer of gold.
New Price of Commodity in $ Old Price in $:
crude palm oil 937 996
RBD Palm Oil 982 1,019
RBD Palmolein 998 1,035
Crude Soya Oil 1,257 1,362
gold 533 549
Silver 608 635
The base price of all commodities except gold and silver is $ per tonne. Tariff of gold is in dollar per 10 grams and silver in dollar per kilo.
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