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Govt Sharply Revises Up Base Import Price Of Edible Oils

15 Nov 2019 8:45 pm
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NEW DELHI Commoditiescontrol)– The government has revised up the base import prices of all edible oils, according to an official notification issued on Thursday, November 15, 2019.

The highest increase of USD 75 per tonne was in the base import price of RBD palmolein.

Based on global prices and fluctuations in foreign exchange rates, the government revises base import prices every fortnight. India is the world’s largest importer of edible oil.

Palm oil accounts for a bulk of the total edible oils imported annually, with most of it imported from Indonesia and Malaysia. Most of the crude soyoil is imported from Argentina, the world’s third-largest soybean producer.

The following table details the base import prices of edible oils, in dollar per tonne.


Edible Oils Nov 15, 2019 Oct 31, 2019 Change
Crude palm oil 613 560 +53
RBD palmolein 661 586 +75
Crude soyoil 761 743 +18


(By Commoditiescontrol Bureau)


       
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