Page 207 - CW E-Magazine (7-11-2023)

Vegetable Oil Market

Groundnut drops; Linseed moves up

Mixed trends prevailed in the market during the past week under review.
Groundnut oil was down by over 9%, while Castor oil dropped marginally.
Meanwhile, Rapeseed and Linseed oils moved up by around a precent each,
even as Sunfl ower oil gained marginally. Cottonseed oil was up by 2.30%.
Sesame oil remained steady. Among imported oils, RBD palmolein and crude
Palm eased up by over 0.5% and crude degummed Soyabean was down by
around 0.5%. In solvent extracted oils, Soyabean was down by over half a
percent, while Rice brans were cheaper by over a percent. Comparing the
prices of some of the oils over the same period last year, groundnut is cheaper
by 9% and sunfl ower is down by 39%. Rapeseed is down by 19% and linseed
is cheaper by 25%. Sesame is costlier by 10%. Castor is cheaper by 16%, while
cottonseed is cheaper by 32%.

Oct-2023 Oct-2023 Change Average Change
Name of oils
27th 20th [%] Oct-2022 [%]
Local oils

Groundnut oil 150,000 165,000 -9.09 164,136 -8.61
Rapeseed oil 108,000 107,000 0.93 133,295 -18.98

Sunfl ower oil 85,000 84,500 0.59 138,955 -38.83

Linseed oil 94,000 93,000 1.08 125,455 -25.07
Sesame oil 245,000 245,000 – 223,364 9.69

Washed cottonseed oil 89,000 87,000 2.30 130,727 -31.92

Castor oil (commercial) 122,000 122,500 -0.41 144,545 -15.60
Imported oils

RBD palmolein 82,500 82,000 0.61 94,886 -13.05

Crude degummed soybean oil 88,500 89,000 -0.56 120,864 -26.78
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 78,700 78,200 0.64 86,677 -9.20

Solvent extracted oils

Soyabean oil (Indore) 86,000 86,500 -0.58 122,795 -29.96
Rice bran oil (RG-I) 75,000 76,000 -1.32 106,614 -29.65

Rice bran oil (RG-II) (industrial) 72,000 73,000 -1.37 103,614 -30.51
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India

Chemical Weekly November 7, 2023 207

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