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Informist, Thursday, Apr. 16, 2026

 

MUMBAI – The government has increased the base import price of all variants of palm oil and of crude soyoil, the Central Board of Indirect Taxes and Customs said in a notification Wednesday. It has raised the base import price of crude palm oil, refined, bleached, and deodorised palm oil and other palm oil by $33 per tonne. 

 

The base import price of crude palmolein and refined, bleached, and deodorised palmolein oil, has been raised by $32 per tonne, according to the notification. For crude soyoil, it has been raised by $28 per tonne to 1,252 per tonne, according to the notification.

 

The Centre levies import duty ad valorem and reviews base import prices, depending on changes in global prices and foreign exchange rates. The government normally revises base import prices of edible oils every fortnight and these are used to calculate the duty on these commodities being brought into the country. 

 

India is the 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, which are the top producers of the commodity.  End

 

US$1 = INR 93.19

 

Reported by Taniva Singha Roy

Edited by Akul Nishant Akhoury

 

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