Govt revises palm oils base prices, soybean oil remains unchanged

New Delhi, Apr 28 (UNI) The Government today revised and raised the base import price of palm oils, second time during the month, by 7 dollar to 427 dollar a tonne, leaving the price of crude soybean oil unchanged at 518 dollar per tonne.

The revised price of RBD Palm Oil is now fixed at 442 dollar a tonne against the existing price of 435 dollar a tonne.

Previously, Finance Ministry had revised the base import price of palm oil at 435 dollar a tonne in mid-April.

Crude palmolein prices were fixed at 449 dollar a tonne compared with 442 dollar a tonne earlier, while RBD palmolein is fixed at 452 dollar a tonne, from 445 dollars.

The price of other palmolein base price has been revised at 451 dollar against 444 dollar a tonne, according to a release by Solvent Extractors Association of India (SEA) received here today.

India, despite being the fourth largest producer of vegetable oils in the world, imports about 40 per cent of vegetable oils to meet its domestic consumption requirement of 11 million tonnes.

UNI BBS PV GC1927