India raises base import price of palm oil, gold

FILE PHOTO: Fresh fruit bunches of oil palm tree are are seen inside a wheelbarrow at a palm oil plantation in Kuala Selangor

MUMBAI (Reuters) - India raised the base import prices of gold, crude and refined palm oil, the government said in a statement on Tuesday, as prices rose 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 960 952


RBD palm 988 962


RBD 1,008 971


Crude soya 1,354 1,345


Gold 570 531

Silver 702 630

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 Devika Syamnath)