Page 213 - CW E-Magazine (9-7-2024)

Vegetable Oil Market

Groundnut gains; Sunfl ower and Sesame move down

Mixed trends prevailed in the market during the past week under
review. Groundnut oil moved up by over 3%, while Rapeseed oil
gained around a percent. Sunfl ower and Sesame oils eased lower
by over 2%. Cottonseed oil was also down by 1.60%. Linseed and
Castor oils remained steady. Among imported oils, RBD palmolein was
down by 0.55% and crude Palm slipped by almost 3%, while crude
degummed Soyabean was down by over half a percent. In solvent
extracted oils, Soyabean fell by a percent, while Rice brans moved
down by over 0.5%, and Neem oil remained unmoved. Comparing the
prices of some of the oils over the same period last year, groundnut is
cheaper by 9% and sunfl ower is up by 8%. Rapeseed is up by 21% and
linseed is costlier by 11%. Sesame is cheaper by over 2%. Castor is
costlier by a percent, while cottonseed is costlier by 4%.
June-2024 June-2024 Change Average Change
Name of oils
28th 21st [%] June-2023 [%]

Local oils
Groundnut oil 150,000 145,000 3.45 165,346 -9.28
Rapeseed oil 117,000 116,000 0.86 96,904 20.74

Sunfl ower oil 90,500 93,000 -2.69 83,846 7.94
Linseed oil 101,000 101,000 - 90,827 11.20

Sesame oil 245,000 250,000 -2.00 249,243 -1.70
Washed cottonseed oil 92,500 94,000 -1.60 88,904 4.04
Castor oil (commercial) 118,500 118,500 – 116,942 1.33

Imported oils
RBD palmolein 91,000 91,500 -0.55 84,423 7.79
Crude degummed soybean oil 92,000 92,500 -0.54 89,519 2.77
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 85,500 88,000 -2.84 81,923 4.37
Solvent extracted oils
Soyabean oil (Indore) 90,000 91,000 -1.10 88,096 2.16

Rice bran oil (RG-I) 86,500 87,000 -0.57 78,385 10.35
Rice bran oil (RG-II) (industrial) 84,500 85,000 -0.59 75,385 12.09

Neem oil 161,000 161,000 – 80,120 100.95
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India.

Chemical Weekly July 9, 2024 213

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