Last Updated : 02 February 2013 at 13:35 IST
India hikes Edible Oil tariff value up to $29 a ton
The hike is in line with rise in global prices. Due to concerns of weather affecting soyabean crop in Argentina, global edible oil prices have firmed up recently .
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NEW DELHI(Commodity Online): The tariff value of edible oils including RBD palmolein and crude soya oil has been hiked by the Indian government
For edible oils base import price hike ranged from $7 to $29 a ton. The hike is in line with rise in global prices. Due to concerns of weather affecting soyabean crop in Argentina, global edible oil prices have firmed up recently .
For bleached and de-odourised (RBD) palmolein the priceis at $870 a ton, rise of $7. Base price on RBD palmolein has been revised by the government on January 24 to $863.
For crude palm oil the import price is now at $815 ($802 earlier). The base import price for RBD Palm Oil is now $860 from $853 earlier. For other palm oil, the base price now stands at $838 against $828.
For crude palmolein, the base import price has been hiked by $7 to $867. For other palmolein, the tariff value has been increased to $869 from the earlier $862.
Soya oil tariff value has been hiked by $29 a tonne to $1,219. india government had imposed a 2.5 per cent duty on crude edible oils recently. However, the refined oils attract a duty of 7.5 per cent.
- NCDEX Castor Seed bullish; further up-tick expected near term
- NCDEX Soybean range bound; may trade 3830-3990 range
- MCX Crude Palm Oil range bound; may trade 452 - 465 range
- NCDEX Soybean positive; 4010 resistance
- NCDEX Soybean bearish; support at 3790
- MCX Crude Palm Oil positive; resistance 471, support 452