Page 207 - CW E-Magazine (2-7-2024)

Vegetable Oil Market

Groundnut, Linseed and Rapeseed move down

Downtrend prevailed in the market during the past week under
review. Groundnut, Rapeseed, Linseed and Cottonseed oils
moved down in the range of 1-2%, while Castor oil also dropped
marginally. Sunfl ower and Sesame oils remained steady. Among
imported oils, RBD palmolein eased lower by 1.40% and crude
Palm was down by almost 0.8%, while crude degummed
Soyabean was down by a percent. In solvent extracted oils,
Soyabean was down by a percent, while Rice brans and Neem
oil held fi rm. Comparing the prices of some of the oils over
the same period last year, groundnut is cheaper by 12% and
sunfl ower is up by 11%. Rapeseed is up by 20% and linseed is costlier
by 11%. Sesame is costlier marginally. Castor is costlier by
a percent, while cottonseed is costlier by 6%.

June-2024 June-2024 Change Average Change
Name of oils
21st 14th [%] June-2023 [%]

Local oils
Groundnut oil 145000 147,500 -1.69 165,346 -12.31
Rapeseed oil 116,000 118,000 -1.69 96,904 19.71

Sunfl ower oil 93,000 93,000 – 83,846 10.92
Linseed oil 101,000 103,000 -1.94 90,827 11.20

Sesame oil 250,000 250,000 – 249,243 0.30
Washed cottonseed oil 94,000 95,000 -1.05 88,904 5.73
Castor oil (commercial) 118,500 119,000 -0.42 116,942 1.33

Imported oils
RBD palmolein 91,500 92,800 -1.40 84,423 8.38
Crude degummed soybean oil 92,500 93,500 -1.07 89,519 3.33
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 88,000 88,700 -0.79 81,923 7.42
Solvent extracted oils
Soyabean oil (Indore) 91,000 92,000 -1.09 88,096 3.30

Rice bran oil (RG-I) 87,000 87,000 – 78,385 10.99
Rice bran oil (RG-II) (industrial) 85,000 85,000 – 75,385 12.75

Neem oil 161,000 161,000 – – –
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India.

Chemical Weekly July 2, 2024 207

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