Article: INDIA'S BASE PRICE FOR EDIBLE OILS TARIFFS CUT BY US$34-63 A TON.

NEW DELHI, May 15 Asia Pulse - India, the world's largest importer of edible oils, Wednesday slashed the base price at which import tariff is imposed on palm oils and crude soya oil by US$34-63 a tonne in line with the international prices.

The move will make imported oils cheaper and should have a sobering effect on domestic prices, traders said here.

The base price (tariff value) at which import duty is levied has been cut for crude palm oil (CPO) to $390, down from $432 a tonne CIF (Cost, Insurance and Freight).

According to a notification issued by the Finance Ministry, the base price for RBD (Refined, Bleached and Deodorised) Palmolein has ...

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