India, the second-largest buyer of vegetable oils, didn't revise benchmark import prices of crude palm and soybean oil. | |
| Crude palm oil price was unchanged at $447 a tonne, while soybean oil price was unchanged at $580, the finance ministry said in a statement in New Delhi on Tuesday. |
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| The benchmark prices, introduced to prevent traders from paying lower import duties by understating edible oil prices, are revised in line with international edible oil prices. |
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| The government hasn't changed the benchmark since August. India bought 347,320 metric tonnes of edible oil last month, 38 per cent more than a year earlier, according to the Solvent Extractors' Association. |
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| Vegetable oil imports, including non-cooking oils, rose to 427,912 tonnes from 302,034 tonnes a year earlier, according to the trade body, which represents about 800 oilseed processors. |
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