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333668

India cuts base import price of palm oil, gold

MUMBAI, Sept 15 (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 Thursday, 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 996 1,192 RBD palm oil 1,019 1,266 RBD palmolein 1,035 1,281 Crude soya oil 1,362 1,500 Gold 549 557 Silver 635 609 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 Andrea Ricci)

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