Financial Daily from THE HINDU group of publications
Sunday, Dec 18, 2005
Financial Daily from THE HINDU group of publications Sunday, Dec 18, 2005 |
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Agri-Biz & Commodities
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Oilseeds & Edible Oil Vegoil tariff values unchanged Our Bureau
Mumbai Dec. 17 THERE is no change in the tariff values of various edible oils as per notification 109/2005 dated December 16 issued by the Ministry of Finance. The last notification issued on November 16 fixed the base price (on which the specified rate of customs duty is charged) of crude palm oil at $433 a tonne; crude palmolein at $440 a tonne; refined palmolein at $445 a tonne; and crude soyabean oil $510 a tonne. Although international prices have eased a little since the last couple of weeks, the Government's decision to maintain status quo on tariff values reflects its concern not to do anything that would depress the already soft domestic prices. Announcement of tariff values every fortnight - whether or not there is change - should become a regular feature as it would help remove uncertainties in the marketplace, according to traders.
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