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NEW DELHI, Sept 2: India raised the base import price of crude soyabean oil on Saturday by $7 to $579 a ton but left the base prices of palm oils unchanged, a government statement said.
Traders said this marginal increase in soybean oil rates will not have any impact on prices or volume of imports.
But they said the change was unexpected as Indian Finance Minister Palaniappan Chidambaram had said on Friday there was no need to revise base import prices of edible oils for sometime as prices had begun to stabilise. —Reuters
