India lowered its base import prices for crude oil and refined palm oil while raising the price of crude soybean oil; the government said in a statement late on Tuesday.

The government revises basic import prices for edible oils, gold and silver every two weeks, and these prices are used to calculate the tax that importers need to pay. Last week, India, the world’s largest importer of edible oils, allowed duty-free imports of 2 million tonnes of soybean oil.

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Commodity New Price ($) Old Price ($)
Crude palm oil 1,625 1,703
RBD Palm Oil 1,733 1,765
RBD Palm Oil 1,744 1,771
Crude soybean oil 1,866 1,827
Gold 597 592
Silver 721 687
Base prices for all commodities are in dollars per ton, except for gold and silver. The tariff is $/10 grams for gold and $/kg for silver.