Page 207 - CW E-Magazine (23-7-2024)

Vegetable Oil Market

Castor swings up; Groundnut and Sunfl ower also gain

Fairly steady trends prevailed in the market during the past week
under review. Castor oil moved up by almost 6%. Groundnut
and Sunflower oils gained over 1.60% each. Linseed oil was down
by a percent, while Cottonseed oil dropped by half a percent.
Rapeseed and Sesame oils remained steady. Among imported
oils, RBD palmolein was unmoved, while crude Palm and crude
degummed Soyabean gained marginally. In solvent extracted
oils, Soyabean and Neem oil were up by half a percent, while
Rice brans remained firm. Comparing the prices of some of the
oils over the same period last year, groundnut is cheaper by 18%
and sunflower is up by 3%. Rapeseed is up by 16% and linseed is
costlier by 5%. Sesame is cheaper by over 4%. Castor is cheaper
by a percent, while cottonseed is cheaper by 3%.
July-2024 July-2024 Change Average Change
Name of oils
12th 5th [%] July-2023 [%]

Local oils
Groundnut oil 152,500 150,000 1.67 185,385 -17.74
Rapeseed oil 117,000 117,000 – 100,831 16.04

Sunfl ower oil 92,000 90,500 1.66 89,654 2.62
Linseed oil 100,000 101,000 -0.99 95,231 5.01

Sesame oil 245,000 245,000 – 255,423 -4.08
Washed cottonseed oil 93,000 92,500 0.54 96,058 -3.18
Castor oil (commercial) 125,500 118,500 5.91 126,558 -0.84

Imported oils
RBD palmolein 91,000 91,000 – 87,365 4.16
Crude degummed soybean oil 92,500 92,000 0.54 92,673 -0.19
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 86,000 85,500 0.58 83,015 3.60
Solvent extracted oils
Soyabean oil (Indore) 90,500 90,000 0.56 90,058 0.49

Rice bran oil (RG-I) 86,500 86,500 – 83,154 4.02
Rice bran oil (RG-II) (industrial) 84,500 84,500 – 80,154 5.42

Neem oil 162,000 161,000 0.62 80,120 –
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India.

Chemical Weekly July 23, 2024 207

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