Page 213 - CW E-Magazine (27-2-2024)

Vegetable Oil Market

Groundnut, Rapeseed and Sunfl ower down

Downtrend prevailed in the market during the past week under
review. Groundnut, Rapeseed, Linseed and Sunfl ower oils
eased lower in the range of 1 to 2%. Sesame oil held fi rm even
as Cottonseed and Castor oils moved down by around half a
percent each. Among imported oils, RBD palmolein and crude
degummed Soyabean were down by over half a percent each,
while crude Palm remained steady. In solvent extracted oils,
Soyabean was cheaper by down by over 2%, while Rice brans
were down by over 1.40%. Comparing the prices of some of the
oils over the same period last year, groundnut is cheaper by 16%
and sunfl ower is down by 21%. Rapeseed is down by 17% and
linseed is cheaper by 24%. 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
16th 9th [%] Feb-2023 [%]

Local oils
Groundnut oil 142,500 145,000 -1.72 168,875 -15.62

Rapeseed oil 97,500 99,000 -1.52 117,604 -17.09
Sunfl ower oil 84,500 85,500 -1.17 106,625 -20.75

Linseed oil 92,000 93,000 -1.08 121,200 -24.09
Sesame oil 245,000 245,000 – 254,750 -3.83

Washed cottonseed oil 86,000 86,500 -0.58 107,854 -20.26
Castor oil (commercial) 119,500 120,000 -0.42 142,571 -16.18

Imported oils
RBD palmolein 85,800 86,300 -0.58 95,563 -10.22

Crude degummed soybean oil 86,500 87,000 -0.57 107,125 -19.25
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 82,200 82,200 – 87,083 -5.61

Solvent extracted oils
Soyabean oil (Indore) 84,000 86,000 -2.33 113,813 -26.19

Rice bran oil (RG-I) 70,000 71,000 -1.41 90,833 -22.94
Rice bran oil (RG-II) (industrial) 67,000 68,000 -1.47 87,833 -23.72

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

Chemical Weekly February 27, 2024 213

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