Page 199 - CW E-Magazine (9-1-2024)

Vegetable Oil Market

Groundnut, Linseed up; Sunfl ower eases

Mixed trends prevailed in the market during the past week under
review. Groundnut oil moved up by over 3%, while Linseed and
Sesame oils went up by over 2%. Rapeseed oil fi rmed up by a
percent. Sunfl ower and Cottonseed oils were cheaper by 0.60% and
2.33%, respectively. Castor oil remained steady. Among imported
oils, RBD and crude Palm were costlier by over 0.60%. Crude
degummed Soyabean held fi rm. In solvent extracted oils, Soyabean
and Rice brans moved up marginally. Comparing the prices of
some of the oils over the same period last year, groundnut is costlier
by 4% and sunfl ower is down by 40%. Rapeseed is down by 32%
and linseed is cheaper by 36%. Sesame is costlier by 7%. Castor
is cheaper by 17%, while cottonseed is cheaper by 36%.

Dec-2023 Dec-2023 Change Average Change
Name of oils
29th 22nd [%] Dec-2022 [%]

Local oils
Groundnut oil 160,000 155,000 3.23 153,442 4.27

Rapeseed oil 98,000 97,000 1.03 143,077 -31.51
Sunfl ower oil 82,500 83,000 -0.60 137,192 -39.87

Linseed oil 88,000 86,000 2.33 137,596 -36.04
Sesame oil 245,000 240,000 2.08 229,692 6.66

Washed cottonseed oil 84,000 86,000 -2.33 131,212 -35.98
Castor oil (commercial) 121,500 121,500 – 146,346 -16.98

Imported oils
RBD palmolein 82,500 82,000 0.61 99,019 -16.68

Crude degummed soybean oil 85,500 85,500 – 132,250 -35.35
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 77,500 77,000 0.65 89,373 -13.28

Solvent extracted oils
Soyabean oil (Indore) 82,500 82,000 0.61 131,750 -37.38

Rice bran oil (RG-I) 73,000 72,500 0.69 114,231 -36.09
Rice bran oil (RG-II) (industrial) 71,000 70,500 0.71 111,231 -36.17

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

Chemical Weekly January 9, 2024 199

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