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India sharply raises base import price of palm oil

MUMBAI, Oct 31 (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)

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