India raises base import price of gold, keeps vegoils steady

Credit: REUTERS/Sivaram V

MUMBAI, March 1 (Reuters) - India raised the base import prices of gold and silver as prices in the world market strengthened, while largely keeping the base price of vegetable oils steady, the government said in a statement late on Thursday.

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

891

890

RBD palm oil

902

901

RBD palmolein

910

910

Crude soya oil

903

903

Gold

654

639

Silver

724

716

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

(Reporting by Rajendra Jadhav; Editing by Sherry Jacob-Phillips)

((rajendra.jadhav@thomsonreuters.com; +91-22-68414378 ; Reuters Messaging: rajendra.jadhav.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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