India sharply raises base import price of palm oil

A worker checks a fresh fruit bunch of oil palm during harvest at a palm oil plantation in Khammam district

MUMBAI (Reuters) - India 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.

(Reporting by Rajendra Jadhav; editing by David Evans)