15/8/06 MUMBAI (Reuters) - The government has rolled back the increases in base import prices for most palm products but kept the price of soybean oil unchanged.

The government issued the latest prices late on Monday but it did not give reasons for the roll back. Earlier on Monday, the government had announced the price increases.

The price of crude palm oil was reduced to $447 per tonne from $481, while the price of crude soybean oil was kept unchanged at $572. The base import price of RBD Palm Oil was also rolled back to $476 per tonne from $506.

The price of crude palm olein was rolled back to $481 per tonne from $509 and RBD palm olein was reduced to $484 from $512.

India buys palm oils from Malaysia and Indonesia and soyoil from Argentina and Brazil. It fixes base prices to calculate customs duties and prevent any loss of revenue due to under-invoicing by importers.

Traders pay duties on the base value irrespective of the prices paid for the oil.