Page 195 - CW E-Magazine (20-2-2024)

Vegetable Oil Market

Groundnut and Sesame move down; Linseed gains

Mixed trends prevailed in the market during the past week under
review. Groundnut oil was down by over 3%, while Sesame oil
eased lower by 2%. Rapeseed, Sunfl ower and Cottonseed oils
gained around 0.5% each. Linseed oil was up by over 2%
and Sesame oil remained steady. Among imported oils,
RBD palmolein was up by over 2%, while crude Palm was up
by almost 4%. Crude degummed Soyabean gained over 2%.
In solvent extracted oils, Soyabean was up by over 3%, while
Rice brans were cheaper by over 1.40%. Comparing the prices
of some of the oils over the same period last year, groundnut is
cheaper by 14% and sunfl ower is down by 20%. Rapeseed is down
by 16% and linseed is cheaper by 23%. Sesame is cheaper by 4%.
Castor is cheaper by 16%, while cottonseed is cheaper by 20%.

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

Local oils
Groundnut oil 145,000 150,000 -3.33 168,875 -14.14

Rapeseed oil 99,000 98,500 0.51 117,604 -15.82
Sunfl ower oil 85,500 85,000 0.59 106,625 -19.81

Linseed oil 93,000 91,000 2.20 121,200 -23.27
Sesame oil 245,000 250,000 -2.00 254,750 -3.83

Washed cottonseed oil 86,500 86,000 0.58 107,854 -19.80
Castor oil (commercial) 120,000 120,000 – 142,571 -15.83

Imported oils
RBD palmolein 86,300 84,500 2.13 95,563 -9.69

Crude degummed soybean oil 87,000 85,000 2.35 107,125 -18.79
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 82,200 79,200 3.79 87,083 -5.61

Solvent extracted oils
Soyabean oil (Indore) 86,000 83,000 3.61 113,813 -24.44

Rice bran oil (RG-I) 71,000 70,000 1.43 90,833 -21.83
Rice bran oil (RG-II) (industrial) 68,000 67,000 1.49 87,833 -22.58

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

Chemical Weekly February 20, 2024 195

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