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India slashes base import price of palm oil, gold



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Repeats Wednesday's story with no changes to text

MUMBAI, May 31 (Reuters) -India slashed the base import prices of crude palm oil, soyoil, gold and silver as prices on the world market corrected, the government said in a statement late on Wednesday.

The government revises the 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

898

988

RBD palm oil

984

1020

RBD palmolein

997

1033

Crude soya oil

976

983

Gold

629

650

Silver

754

773


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



Reporting by Rajendra Jadhav; Editing by Kirsten Donovan

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