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India cuts base import prices of crude palm oil, gold

India has reduced the base import prices of crude palm oil, soyoil, gold and silver, the government said late on Wednesday.

June 15, 2022 / 09:35 PM IST
Representative image of palm oil being harvested at a plantation.

Representative image of palm oil being harvested at a plantation.

India has reduced the base import prices of crude palm oil, soyoil, gold and silver, the government said late on Wednesday.

The government revises base import prices of edible oils, gold and silver every fortnight, and the prices are used to calculate the amount of tax an importer needs to pay.

India, the world's biggest edible oils importer, last month allowed duty-free imports of 2 million tonnes of soyoil.

Commodity New price in $ Old price in $: