Page 203 - CW E-Magazine (6-8-2024)

Vegetable Oil Market

Castor gains, Rapeseed drops

Fairly steady trends prevailed in the market during the
past week under review. Castor oil moved up by over 1.6%,
while Rapeseed and Groundnut oils eased down by under
a precent. Cottonseed oil gained marginally. Sunfl ower,
Linseed and Sesame oils remained steady. Among imported
oils, RBD palmolein and crude degummed Soyabean
were down by around half a percent, while crude Palm
held fi rm. In solvent extracted oils, Soyabean slipped by
over a percent, while Rice brans and Neem oil remained
steady. Comparing the prices of some of the oils over the
same period last year, groundnut is cheaper by 15% and
sunfl ower is up by 3%. Rapeseed is up by 15% and linseed is costlier by 5%. Sesame is cheaper by over
4%. Castor is cheaper by a percent, while cottonseed is cheaper by 3%.

July-2024 July-2024 Change Average Change
Name of oils
26th 19th [%] July-2023 [%]

Local oils
Groundnut oil 157,500 158,000 -0.32 185,385 -15.04
Rapeseed oil 116,000 117,000 -0.85 100,831 15.04

Sunfl ower oil 92,000 92,000 – 89,654 2.62
Linseed oil 100,000 100,000 – 95,231 5.01

Sesame oil 245,000 245,000 – 255,423 -4.08
Washed cottonseed oil 93,000 92,500 0.54 96,058 -3.18
Castor oil (commercial) 125,500 123,500 1.62 126,558 -0.84
Imported oils

RBD palmolein 90,500 91,000 -0.55 87,365 3.59
Crude degummed soybean oil 91,000 91,500 -0.55 92,673 -1.81
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 85,700 85,700 – 83,015 3.23
Solvent extracted oils
Soyabean oil (Indore) 89,500 90,500 -1.10 90,058 -0.62

Rice bran oil (RG-I) 87,000 87,000 – 83,154 4.63
Rice bran oil (RG-II) (industrial) 82,000 82,000 – 80,154 2.30
Neem oil 163,000 163,000 – – –

Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India.

Chemical Weekly August 6, 2024 203

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