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HomeBusinessFinanceIndia slashes base import prices of crude, refined palm oil and gold

India slashes base import prices of crude, refined palm oil and gold

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MUMBAI (Reuters) – India has slashed the base import prices of crude and refined palm oil, crude soya oil and gold, the government said in a statement late on Friday, as prices corrected 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 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


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 William Mallard)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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