India Raises Base Import Price of Palm Oil, Gold

As the price of gold, crude palm oil and refined palm oil rises on the global market, the government of India announced on Tuesday that it had raised the base import prices for gold, crude palm oil and refined palm oil.

To calculate the tax importers must pay, the government publishes the base import prices of edible oils, gold, and silver every fortnight. The prices are used to determine the amount of tax that importers should pay. India is the world's largest importer of edible oils and silver and the second-biggest consumer of gold in the world.

It should be noted that all commodity prices are in dollars per tonne, except for gold and silver, which are in euros per tonne. How are commodities priced? Crude palm 960 952 oil RBD palm 988 962 oil RBD 1,008 971 palmolein Crude soya 1,354 1,345 oil Gold 570 531 Silver 702 630 Prices for all commodities are in dollars per tonne, except for gold and silver. The gold tariff is $ per 10 grams, and silver in $ per kg.