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Informist, Friday, Feb. 14, 2025

 

--Govt cuts crude palmolein base import price to $1,155/tn vs $1,161/tn

--Govt cuts RBD palm oil base import price to $1,147/tn vs $1,158/tn

--Govt cuts RBD palmolein base import price to $1,158/tn vs $1,164/tn

--Govt cuts crude soyoil base import price at $1,082tn vs $1,118/tn  

--Govt ups crude palm oil base import price to $1,111/tn vs $1,109/tn 

 

MUMBAI – The government has reduced base import prices of most edible oils by $6-$36 per tonne, the Central Board of Indirect Taxes and Customs said in a notification Friday. The Centre levies import duty ad valorem and reviews the base import prices depending on changes in global prices and foreign exchange rates, usually on a fortnightly basis. The base import prices of edible oils were last revised on Jan. 31.

 

The government has cut the base import price of refined, bleached, and deodorised palm oil by $11 per tonne. The base import price of refined, bleached, and deodorised palmolein as well as crude palmolein has been reduced by $6 per tonne each. It has also lowered the base import price of crude soybean oil by $36 a tonne.

 

However, the Centre has raised the base import price on crude palm oil by $2 per tonne to $1,111 per tonne. India is the world's largest importer of edible oils. Palm oil accounts for bulk of the country's 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	Feb. 14	Jan. 31	CHANGE
Crude palm oil	1,111	1,109	2
RBD palm oil	1,147	1,158	(-) 11
Crude palmolein	1,155	1,161	(-)  6
RBD palmolein	1,158	1,164	(-)  6
Crude soyoil	1,082	1,118	(-) 36

 

End

 

Reported by Sandeep Sinha

Edited by Deepshikha Bhardwaj

 

 

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