15/01/2008 (The Economic Times), New Delhi - The base prices of edible oils, which determine the customs duties on them, have been kept unchanged by the government as the domestic prices remain high.

According to a notification issued by the Central Board of Excise and Customs, tariff values of six palm group oils, crude soyabean oil and poppy seeds remain unchanged.

Tariff values of imported oils are reviewed every fortnight to calculate customs duty with the aim of preventing revenue loss due to under-invoicing by importers.

Base prices or tariff values of palm oil products, which accounted for majority of edible oil imports, have not been changed since July, 2006 in order to contain cooking oil prices in the country.

Current tariff value for soyabean oil is $580 per tonne, while that of crude palm oil is at $447 per tonne. The RBD palm oil tariff value stands at $476 per tonne, palm oil (others) at $462, crude palmolein at $481, RBD palmolein at Rs 484 and palmolein (others) at $483.

Nearly 40-50 per cent of domestic edible oil consumption of 11-12 million tonne is met through imports of soyabean and palm group of oils.

Edible oils are India's second largest import commodity after crude oil and play an important part in the overall price line.

Wholesale edible prices went up by five per cent during the week ended December 29.

However, tariff value of brass scrap (all grades) was reduced to $4,114 per metric tonne from $4,283.