India, June 17 -- India has increased the base import price of crude palm oil by $11 to $525 per tonne the government said in a statement. Import tariff value on RBD palm oil raised by $10 to $556 per tonne.The government usually 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 40 percent duty on crude palm oil imports.Malaysia and Indonesia are the main suppliers of palm oil to India.The government keeps import tariff value on crude soya bean oil unchanged at $709 per tonne.
Published by HT Digital Content Services with permission from Commodity Online....