Page 209 - CW E-Magazine (25-6-2024)

Vegetable Oil Market

Groundnut, Linseed and Sunfl ower move up

Mixed trends prevailed in the market during the past week
under review. Groundnut and Sunfl ower oils were costlier in
the range of 2-3%, while Linseed and Castor oils were up by
almost a percent each. Cottonseed oil gained marginally, while
Rapeseed and Sesame oils remained steady. Among imported
oils, RBD palmolein moved up by almost a percent and crude
Palm was down marginally, while crude degummed Soyabean
was up by a percent. In solvent extracted oils, Soyabean gained
half a percent, while Rice brans were up by over a percent and
Neem oil was down 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 11%. Rapeseed is up by 22% and linseed is costlier by 13%. Sesame is costlier
marginally. Castor is costlier by 2%, while cottonseed is costlier by 7%.

June-2024 June-2024 Change Average Change
Name of oils
14th 07th [%] June-2023 [%]

Local oils
Groundnut oil 147,000 143,000 2.80 165,346 -11.10
Rapeseed oil 118,000 118,000 – 96,904 21.77

Sunfl ower oil 93,000 91,000 2.20 83,846 10.92
Linseed oil 103,000 102,000 0.98 90,827 13.40

Sesame oil 250,000 250,000 – 249,243 0.30
Washed cottonseed oil 95,000 94,500 0.53 88,904 6.86
Castor oil (commercial) 119,000 118,000 0.85 116,942 1.76

Imported oils
RBD palmolein 92,800 92,000 0.87 84,423 9.92
Crude degummed soybean oil 93,500 92,500 1.08 89,519 4.45
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 88,700 89,000 -0.34 81,923 8.27
Solvent extracted oils
Soyabean oil (Indore) 92,000 91,500 0.55 88,096 4.43

Rice bran oil (RG-I) 87,000 86,000 1.16 78,385 10.99
Rice bran oil (RG-II) (industrial) 85,000 84,000 1.19 75,385 12.75

Neem oil 160,000 161,000 -0.62 – –
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India.

Chemical Weekly June 25, 2024 209

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