India cuts base import price of Crude Palm Oil by $23 per tonne
Commodity Online | May 17 2019
UPDATED 10:51:53 IST

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India has lowered the base import price of crude palm oil by $23 to $522 per tonne, the government said in a statement.

Import tariff value on RBD palm oil revised down by $26 to $551 per tonne.

The government usually revises base import prices of edible oils, gold and silver every fortnight and the price is used to calculate the amount of tax an importer needs to pay.

The world's biggest edible oil importer has levied 40 percent duty on crude palm oil imports.

Malaysia and Indonesia are the main suppliers of palm oil to India.

The government also lowered import tariff value on crude soya bean oil to $689 per tonne from $696 per tonne earlier.

 

Commodity Arrivals Rate
Mustard Oil 0.5 8800.00
Coconut Oil 0.8 18500.00
Arecanut 0.62 22000.00
Sugar 15 3420.00

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