Govt increases tariff value on palm and soyabean oils
New Delhi, July 14: The Government today increased the tariff value for crude palm oil by eight dollars to 432 dollars per tonne while the tariff value was hiked by 37 dollars for crude soyabean to 566 dollars.
The tariff value for RBD palm oil has been raised by 16 dollars to 459 dollars per tonne from 443 dollars while palm oil (othars) was up by 12 dollars at 446 dollars per tonne.
Crude palmolein, RBD palmolein and palmolein (others) tariff value was raised by 10 dollars each to 460 dollars, 463 dollars and 462 dollars respectively.
The last revision of the base price for edible oils took place on June 30.
The government fixes tariff value to calculate custom duties and to prevent any loss of revenue due to under invoicing by importers.
In addition, the Central Board of Excise and Customs (CBEC) has increased the tariff value for brass scrap (all grades) to 4,305 dollars per tonne from 4,055 dollars.
ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB )
Lot 6, SS6, Jalan Perbandaran,
47301 Kelana Jaya,
Selangor Darul Ehsan,
Tel : 603 - 7802 2800 || Fax : 603 - 7803 3533