Govt raises base import price of edible oils by $30-$62 per tn
This story was originally published at 16:46 IST on 3 March 2025
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MUMBAI – The government has raised base import prices of edible oils by $30-$62 per tonne, the Central Board of Indirect Taxes and Customs said in a notification late 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 Feb. 14.
The government has raised the base import price of crude palm oil by $62 per tonne, refined, bleached, and deodorised palm oil by $42 per tonne, and refined, bleached, and deodorised palmolein and crude palmolein by $45 per tonne each.
The Centre has raised the base import price of crude soybean oil by $30 to $1,112 per tonne. 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 | Feb. 28 | Feb. 14 | CHANGE |
Crude palm oil | 1,173 | 1,111 | 62 |
RBD palm oil | 1,189 | 1,147 | 42 |
Crude palmolein | 1,200 | 1,155 | 45 |
RBD palmolein | 1,203 | 1,158 | 45 |
Crude soyoil | 1,112 | 1,082 | 30 |
End
Reported by Sandeep Sinha
Edited by Saji George Titus
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