Page 209 - CW E-Magazine (11-6-2024)

Vegetable Oil Market

Linseed, Castor and Sunfl ower move up

Mixed trends prevailed in the market during the past week
under review. Linseed oil climbed up by 6%, while Castor and
Sunfl ower oils gained over a percent. Groundnut, Rapeseed and
Sesame oils remained steady. Cottonseed oil dropped marginally.
Among imported oils, RBD palmolein was up by over a percent
and crude Palm was down marginally, while crude degummed
Soyabean fi rmed up by over 2%. In solvent extracted oils, Soyabean
was up by over a percent, while Rice brans gained about 2.40% and
Neem oil was down by over 3%. 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 4%. Rapeseed is up by 21% and linseed is
costlier by 17%. Sesame is cheaper by 6%. Castor is cheaper by 2%,
while cottonseed is costlier by 5%.

May-2024 May-2024 Change Average Change
Name of oils
31st 24th [%] May-2023 [%]

Local oils
Groundnut oil 146,500 146,500 – 164,115 -10.73
Rapeseed oil 118,000 118,000 – 97,808 20.64

Sunfl ower oil 91,000 90,000 1.11 87,538 3.95
Linseed oil 106,000 100,000 6.00 90,577 17.03

Sesame oil 250,000 250,000 – 265,346 -5.78
Washed cottonseed oil 94,500 95,000 -0.53 89,923 5.09
Castor oil (commercial) 117,500 116,000 1.29 120,125 -2.19

Imported oils
RBD palmolein 91,000 90,000 1.11 90,808 0.21
Crude degummed soybean oil 94,000 92,000 2.17 88,019 6.80
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 88,000 88,200 -0.23 85,808 2.55
Solvent extracted oils
Soyabean oil (Indore) 91,300 90,000 1.44 90,788 0.56

Rice bran oil (RG-I) 86,000 84,000 2.38 88,019 -2.29
Rice bran oil (RG-II) (industrial) 84,000 82,000 2.44 85,808 -2.11

Neem oil 160,000 165,000 -3.03 – –
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India.

Chemical Weekly June 11, 2024 209

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