Govt keeps base import prices of all edible oils unchanged
This story was originally published at 10:28 IST on 13 November 2024
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MUMBAI – The government has kept the base import prices of all edible oils unchanged from the previous notification on Oct. 30, the Central Board of Indirect Taxes and Customs said in a notification late on Tuesday. The central government levies import duty ad valorem and reviews base prices depending on changes in global prices and foreign exchange rates, usually on a fortnightly basis.
The government has not changed import prices of edible oils such as refined, bleached and deodorised palmolein oil, crude palmolein, and crude soyoil. It has also kept the import prices of crude palm oil and refined, bleached and deodorised palm oil unchanged.
India is the world's largest importer of edible oils. Palm oil accounts for a bulk of the imports, with most of it purchased from Indonesia, Malaysia, and Thailand, the world's top producers of the commodity.
The following table details the base import prices of edible oils compared with previous levels, in dollars per tonne, and the revision in absolute terms in dollars:
EDIBLE OIL | Nov. 12 | Oct. 30 | CHANGE |
Crude palm oil | 1,046 | 1,046 | unch |
RBD palm oil | 1,058 | 1,058 | unch |
Crude palmolein | 1,063 | 1,063 | unch |
RBD palmolein | 1,066 | 1,066 | unch |
Crude soyoil | 1,057 | 1,057 | unch |
End
Reported by Sandeep Sinha
Edited by Namrata Rao
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