Page 205 - CW E-Magazine (26-3-2024)

Vegetable Oil Market

Linseed swings up, Rapeseed and Sunfl ower also gain

Uptrend prevailed in the market during the past week under review.

Linseed oil moved up signifi cantly by over 8%, while Rapeseed
and Sunfl ower oils were costlier by over 3%. Groundnut and
Cottonseed oils were up by over 2%, while Sesame oil remained
steady. Castor oil was down by 0.81%. Among imported oils,
RBD palmolein and crude Palm gained around 5%, while crude
degummed Soyabean remained unmoved. In solvent extracted oils,
Soyabean was up by almost 5%, while Rice brans gained over 7%.
Comparing the prices of some of the oils over the same period last
year, groundnut is cheaper by 12% and sunfl ower is down by 7%.
Rapeseed is down by 4% and linseed is cheaper by 5%. Sesame is
costlier by a percent. Castor is cheaper by 8%, while cottonseed is
cheaper by 2%.

Mar-2024 Mar-2024 Change Average Change
Name of oils
15th 08th [%] Mar-2023 [%]

Local oils
Groundnut oil 150,000 147,000 2.04 170,080 -11.81

Rapeseed oil 106,000 102,000 3.92 110,160 -3.78
Sunfl ower oil 92,000 89,000 3.37 98,720 -6.81

Linseed oil 103,000 95,000 8.42 108,083 -4.70
Sesame oil 255,000 255,000 – 252,280 1.08

Washed cottonseed oil 98,000 95,500 2.62 99,820 -1.82
Castor oil (commercial) 122,000 123,000 -0.81 132,896 -8.20

Imported oils
RBD palmolein 96,500 92,000 4.89 96,140 0.37

Crude degummed soybean oil 92,500 92,500 – 98,740 -6.32
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 94,700 89,700 5.57 87,320 8.45

Solvent extracted oils
Soyabean oil (Indore) 96,500 92,000 4.89 104,000 -7.21

Rice bran oil (RG-I) 80,000 74,500 7.38 83,120 -3.75
Rice bran oil (RG-II) (industrial) 77,000 71,500 7.69 80,120 -3.89

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

Chemical Weekly March 26, 2024 205

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