Page 205 - CW E-Magazine (20-8-2024)

Vegetable Oil Market

Groundnut, Linseed and Sunfl ower move down

Fairly steady trends prevailed in the market during the past
week under review. Groundnut and Linseed oils eased lower
by over a percent, while Sunfl ower oil was down by half a
percent. Sesame, Cottonseed and Castor oils remained steady.
Rapeseed oil gained marginally. Among imported oils, RBD
palmolein was unmoved, while crude Palm gained almost a
percent and crude degummed Soyabean held fi rm. In solvent
extracted oils, Soyabean was up by over half a percent, while
Rice bran (RG-I) grade dropped down by over a percent. Neem oil
remained steady. Comparing the prices of some of the oils over
the same period last year, groundnut is cheaper by 21% and
sunfl ower is up by 2%. Rapeseed is up by 6% and linseed is cheaper by a percent. Sesame is cheaper by
4%. Castor is cheaper by 2%, while cottonseed is costlier marginally.

Aug-2024 Aug-2024 Change Average Change
Name of oils
9th 2nd [%] Aug-2023 [%]

Local oils
Groundnut oil 147,500 150,000 -1.67 187,173 -21.20
Rapeseed oil 117,000 116,500 0.43 110,750 5.64

Sunfl ower oil 91,000 91,500 -0.55 89,019 2.23
Linseed oil 98,000 99,000 -1.01 99,019 -1.03

Sesame oil 245,000 245,000 – 254,462 -3.72
Washed cottonseed oil 92,500 92,500 – 92,000 0.54
Castor oil (commercial) 126,000 126,000 – 128,288 -1.78
Imported oils

RBD palmolein 91,500 91,500 – 85,346 7.21
Crude degummed soybean oil 89,000 89,000 – 90,923 -2.11
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 88,300 87,500 0.91 81,088 8.89
Solvent extracted oils
Soyabean oil (Indore) 89,000 88,500 0.56 89,346 -0.39

Rice bran oil (RG-I) 86,000 87,000 -1.15 87,154 -1.32
Rice bran oil (RG-II) (industrial) 82,000 82,000 – 84,154 -2.56
Neem oil 163,000 163,000 – 80,120 103.44

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

Chemical Weekly August 20, 2024 205

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