Page 211 - CW E-Magazine (28-5-2024)

Vegetable Oil Market

Rapeseed spurts; Castor also gains

Uptrend prevailed in the market during the past week under
review. Rapeseed oil zoomed up by over 7%, while Castor oil
gained over 2.5%. Sunfl ower, Linseed and Cottonseed oils moved
up in the range of 1-2%. Groundnut and Sesame oils were up
marginally. Among imported oils, RBD palmolein and crude
Palm gained over a percent, while crude degummed Soyabean
fi rmed up by almost 3%. In solvent extracted oils, Soyabean was
up by around 3%, while Rice brans gained over 2.50% and Neem
oil remained unmoved. Comparing the prices of some of the oils
over the same period last year, groundnut is cheaper by 10% and
sunfl ower is down by a percent. Rapeseed is up by 12% and linseed
is costlier by 7%. Sesame is cheaper by 8%. Castor is cheaper by
a percent, while cottonseed is costlier by 4%.

May-2024 May-2024 Change Average Change
Name of oils
17th 10th [%] May-2023 [%]

Local oils
Groundnut oil 148,500 147,500 0.68 164,115 -9.51
Rapeseed oil 110,000 102,500 7.32 97,808 12.47

Sunfl ower oil 87,000 85,500 1.75 87,538 -0.61
Linseed oil 97,000 96,000 1.04 90,577 7.09

Sesame oil 246,000 245,000 0.41 265,346 -7.29
Washed cottonseed oil 93,500 92,000 1.63 89,923 3.98
Castor oil (commercial) 119,000 116,000 2.59 120,125 -0.94

Imported oils
RBD palmolein 90,000 89,000 1.12 90,808 -0.89
Crude degummed soybean oil 89,000 86,500 2.89 88,019 1.11
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 88,200 87,200 1.15 85,808 2.79
Solvent extracted oils
Soyabean oil (Indore) 88,500 86,000 2.91 90,788 -2.52

Rice bran oil (RG-I) 81,000 79,000 2.53 88,019 -7.97
Rice bran oil (RG-II) (industrial) 78,000 76,000 2.63 85,808 -9.10

Neem oil 158,000 158,000 – 80,120 97.20
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India.

Chemical Weekly May 28, 2024 211

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