Economy & Business

    India raises base import price of gold, keeps vegetable oils steady

    The Hawk
    March1/ 2024
    Last Updated:

    India increases gold and silver import prices amidst global market strength, maintaining steady vegetable oil base prices.

    Representative image for gold

    Mumbai: 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.


    Crude palm oil

    New price in $: 891


    RBD palm oil

    New price in $: 902

    Old price in $: 901

    RBD palmolein

    New price in $: 910

    Old price in $: 910

    Crude soya oil

    New price in $: 903

    Old price in $: 903


    New price in $: 654

    Old price in $: 639


    New price in $: 724

    Old price in $: 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.