India slashes base import price of palm oil, gold
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
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.
Top News
India`s rating upgrade hinges on sustainable fiscal consolidation, low inflation - S&P analyst
