Page 189 - CW E-Magazine (5-3-2024)

Vegetable Oil Market

Groundnut, Sesame and Rapeseed move up

Uptrend prevailed in the market during the past week under
review. Groundnut oil gained over 3.50%, while Rapeseed oil
moved up by over 1.50% and Sesame oil fi rmed up by 2%.
Sunfl ower and Castor oils gained marginally, while Linseed oil
held fi rm. Cottonseed oil was up by over 4%. Among imported
oils, RBD palmolein and crude Palm were costlier by under a
percent, while crude degummed Soyabean was up by over a
percent. In solvent extracted oils, Soyabean gained a percent,
while Rice brans were up by over 2.80%. Comparing the prices
of some of the oils over the same period last year, groundnut is
cheaper by 13% and sunfl ower is down by 20%. Rapeseed is down
by 16% and linseed is cheaper by 24%. Sesame is cheaper by 2%.
Castor is cheaper by 15%, while cottonseed is cheaper by 17%.

Feb-2024 Feb-2024 Change Average Change
Name of oils
23rd 16th [%] Feb-2023 [%]

Local oils
Groundnut oil 147,500 142,500 3.51 168,875 -12.66

Rapeseed oil 99,000 97,500 1.54 117,604 -15.82
Sunfl ower oil 85,000 84,500 0.59 106,625 -20.28

Linseed oil 92,000 92,000 – 121,200 -24.09
Sesame oil 250,000 245,000 2.04 254,750 -1.86

Washed cottonseed oil 89,500 86,000 4.07 107,854 -17.02
Castor oil (commercial) 120,500 119,500 0.84 142,571 -15.48

Imported oils
RBD palmolein 86,200 85,800 0.47 95,563 -9.80

Crude degummed soybean oil 87,500 86,500 1.16 107,125 -18.32
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 82,700 82,200 0.61 87,083 -5.03

Solvent extracted oils
Soyabean oil (Indore) 85,000 84,000 1.19 113,813 -25.32

Rice bran oil (RG-I) 72,000 70,000 2.86 90,833 -20.73
Rice bran oil (RG-II) (industrial) 69,000 67,000 2.99 87,833 -21.44

Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India.

Chemical Weekly March 5, 2024 189

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