Page 199 - CW E-Magazine (27-8-2024)

Vegetable Oil Market

Groundnut gains; Rapeseed falls

Mixed trends prevailed in the market during the past week under
review. Groundnut oil was up by almost 2%, and Linseed oil gained
around half a percent. Rapeseed oil slipped by 0.85%. Sunfl ower,
Sesame, Cottonseed and Castor oils remained steady. Among
imported oils, RBD palmolein was up by half a percent and crude
Palm was down by 0.34% while crude degummed Soyabean gained
0.56%. In solvent extracted oils, Soyabean was down by over a
percent and Rice bran (RG-I) was up by over a percent, while Rice
bran (RG-II) and Neem oil held fi rm. Comparing the prices of some
of the oils over the same period last year, groundnut is cheaper by
20% and sunfl ower is up by 2%. Rapeseed is up by 5% and linseed
is cheaper by half a percent. Sesame is cheaper by 4%. Castor is
cheaper by 2%, while cottonseed is cheaper by half a percent.

Aug-2024 Aug-2024 Change Average Change
Name of oils
16th 9th [%] Aug-2023 [%]

Local oils
Groundnut oil 150,000 147,500 1.69 187,173 -19.86
Rapeseed oil 116,000 117,000 -0.85 110,750 4.74

Sunfl ower oil 91,000 91,000 – 89,019 2.23
Linseed oil 98,500 98,000 0.51 99,019 -0.52

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 92,000 91,500 0.55 85,346 7.80
Crude degummed soybean oil 89,500 89,000 0.56 90,923 -1.57
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 88,000 88,300 -0.34 81,088 8.52
Solvent extracted oils
Soyabean oil (Indore) 88,000 89,000 -1.12 89,346 -1.51

Rice bran oil (RG-I) 87,000 86,000 1.16 87,154 -0.18
Rice bran oil (RG-II) (industrial) 82,000 82,000 – 84,154 -2.56
Neem oil 163,000 163,000 – 80,120 –

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

Chemical Weekly August 27, 2024 199

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