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India slashes base import price of crude palm oil by $36 per tonne

MUMBAI (Reuters) - India slashed the base import price of crude palm oil by $36 to $1,013 per tonne, the government said in a statement late on Friday.

Palm oil fruits are seen placed on a wheelbarrow at a palm oil farm in Klang, outside Kuala Lumpur, February 19, 2014. REUTERS/Samsul Said/File Photo

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

The world’s biggest edible oil importer has levied 27.5 percent duty on crude palm oil imports.

Commodity new price in $ old price in $

crude palm oil 1,013 1,049

RBD palm oil 1,038 1,061

RBD palmolein 1,047 1,067

crude soya oil 1,127 1,165

gold 597 593

silver 812 814

Base prices for all commodities are in $ per tonne, except for gold and silver. Gold tariff is $ per 10 grams and silver $ per kg.

Reporting by Rajendra Jadhav