Page 191 - CW E-Magazine (4-6-2024)

Vegetable Oil Market

Rapeseed gains; Sunfl ower and Linseed also up

Uptrend prevailed in the market during the past week under review.
Rapeseed oil zoomed up by over 7%, while Sunfl ower and Linseed oils
gained over 3%. Cottonseed and Sesame oils were up by around 1.6%.
Castor oil fell by over 2.5%, while Groundnut oil was down by over
a percent. Among imported oils, RBD palmolein and crude Palm
remained unmoved, while crude degummed Soyabean fi rmed up
by over 3%. In solvent extracted oils, Soyabean was up by around
1.70%, while Rice brans gained in the range of 3-5% and Neem oil
was up by over 4.40%. Comparing the prices of some of the oils over
the same period last year, groundnut is cheaper by 11% and sunfl ower
is up by 3%. Rapeseed is up by 21% and linseed is costlier by 10%.
Sesame is cheaper by 6%. Castor is cheaper by 3%, while cottonseed
is costlier by 6%.

May-2024 May-2024 Change Average Change
Name of oils
24th 17th [%] May-2023 [%]

Local oils
Groundnut oil 146,500 148,500 -1.35 164,115 -10.73
Rapeseed oil 118,000 110,000 7.27 97,808 20.64

Sunfl ower oil 90,000 87,000 3.45 87,538 2.81
Linseed oil 100,000 97,000 3.09 90,577 10.40

Sesame oil 250,000 246,000 1.63 265,346 -5.78
Washed cottonseed oil 95,000 93,500 1.60 89,923 5.65
Castor oil (commercial) 116,000 119,000 -2.52 120,125 -3.43

Imported oils
RBD palmolein 90,000 90,000 – 90,808 -0.89
Crude degummed soybean oil 92,000 89,000 3.37 88,019 4.52
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 88,200 88,200 – 85,808 2.79
Solvent extracted oils
Soyabean oil (Indore) 90,000 88,500 1.69 90,788 -0.87

Rice bran oil (RG-I) 84,000 81,000 3.70 88,019 -4.57
Rice bran oil (RG-II) (industrial) 82,000 78,000 5.13 85,808 -4.44

Neem oil 165,000 158,000 4.43 – –
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India.

Chemical Weekly June 4, 2024 191

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