India has raised the base import prices of gold, silver and all vegetable oils, the government said late on Wednesday, to reflect rising global market prices.
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 is the world’s biggest importer of edible oils and silver, and the second-biggest consumer of gold.
Commodity New price in $ Old price in $ Crude palm oil 1123 1108 RBD palm oil 1148 1132 RBD palmolein 1152 1144 Crude soya oil 1187 1181 Gold 1327 1231 Silver 1663 1515 Base prices for all commodities are in $ per ton, except for gold and silver. The gold tariff is in $ per 10 grams and silver in $ per kg.