Govt cuts base import price of most edible oils by $61-$104 per tonne
This story was originally published at 13:41 IST on 1 May 2025
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MUMBAI – The government has cut base import price of most edible oils by $61-$104 per tonne, the Central Board of Indirect Taxes and Customs said in a notification Wednesday. 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 Apr. 15.
The government has slashed the base import price of crude palm oil by $104 per tonne. The base import price of refined, bleached, and deodorised palmolein as well as crude palmolein has been reduced by $64 per tonne each. It government has also cut base import price of refined, bleached, and deodorised palm oil by $61 per tonne.
However, the Centre has raised the base import price on crude soyoil by $5 per tonne. India is the world's largest importer of edible oils. Palm oil accounts for a bulk of the country's imports, with most of it purchased from Indonesia, Malaysia, and Thailand, 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 | Apr. 30 | Apr. 23 | CHANGE |
Crude palm oil | 1,049 | 1,153 | (-)104 |
RBD palm oil | 1,101 | 1,162 | (-)61 |
Crude palmolein | 1,109 | 1,173 | (-)64 |
RBD palmolein | 1,112 | 1,176 | (-)64 |
Crude soyoil | 1,103 | 1,098 | 5 |
End
US$1 = INR 84.49
Reported by J. Navya Sruthi
Edited by Vandana Hingorani
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