Page 201 - CW E-Magazine (18-6-2024)

Vegetable Oil Market

Linseed, Rapeseed and Groundnut move down

Fairly steady trends prevailed in the market during the past
week under review. Linseed oil was down by over 3%, while
Rapeseed and Groundnut oils fell by over a percent. Other
local oils remained steady. Among imported oils, RBD
palmolein was down marginally and crude Palm remained
steady, while crude degummed Soyabean eased lower by
1.60%. In solvent extracted oils, Soyabean was down marginally,
while Rice brans remained steady and Neem oil was up by over
0.60%. 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 18% and linseed is costlier by
12%. Sesame is cheaper by 6%. Castor is cheaper by 2%, while
cottonseed is costlier by 5%.

June-2024 May-2024 Change Average Change
Name of oils
07th 31st [%] May-2023 [%]

Local oils
Groundnut oil 145,000 146,500 -1.02 164,115 -11.65
Rapeseed oil 116,000 118,000 -1.69 97,808 18.60

Sunfl ower oil 91,000 91,000 – 87,538 3.95
Linseed oil 102,000 106,000 -3.77 90.577 12.61

Sesame oil 250,000 250,000 – 265.346 -5.78
Washed cottonseed oil 94,500 94,500 – 89.923 5.09
Castor oil (commercial) 117,500 117,500 – 120.125 -2.19

Imported oils
RBD palmolein 90,500 91,000 -0.55 90.808 -0.34
Crude degummed soybean oil 92,500 94,000 -1.60 88.019 5.09
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 88,000 88,000 – 85.808 2.55
Solvent extracted oils
Soyabean oil (Indore) 91,000 91,300 -0.33 90.788 0.23

Rice bran oil (RG-I) 86,000 86,000 – 88.019 -2.29
Rice bran oil (RG-II) (industrial) 84,000 84,000 – 85.808 -2.11

Neem oil 161,000 160,000 0.63 – –
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India.

Chemical Weekly June 18, 2024 201

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