Page 207 - CW E-Magazine (28-11-2023)

Vegetable Oil Market

Sunfl ower, Groundnut and Sesame fi rm up

Uptrend prevailed in the market during the past week under
review. Sunfl ower oil moved up by almost 6% even as Groundnut
oil gained over 3%. Sesame and Rapeseed oils fi rmed up by 2%,
while Cottonseed oil jumped up by 8%. Castor oil fell by almost
2%, while Linseed oil stayed steady. Among imported oils, RBD
palmolein was up by 3%, while crude Palm gained 2%. Crude
degummed Soyabean was up by over 4%. In solvent extracted oils,
Soyabean gained 7%, while Rice brans were up by 4%. Comparing
the prices of some of the oils over the same period last year,
groundnut is costlier by a percent, while sunfl ower and linseed are
cheaper by around 34% each. Rapeseed is down by 25%. Sesame
is costlier by 9%. Castor is cheaper by 19%, while cottonseed is
cheaper by 30%.

Nov-2023 Nov-2023 Change Average Change
Name of oils
17th 10th [%] Nov-2022 [%]

Local oils
Groundnut oil 155,000 150,000 3.33 153,443 1.01

Rapeseed oil 107,000 105,000 1.90 143,077 -25.22
Sunfl ower oil 91,000 86,000 5.81 137,192 -33.67

Linseed oil 90,000 90,000 – 137,596 -34.59
Sesame oil 250,000 245,000 2.04 229,692 8.84

Washed cottonseed oil 93,000 86,000 8.14 131,212 -29.12
Castor oil (commercial) 118,500 120,500 -1.66 146,346 -19.03

Imported oils
RBD palmolein 85,500 83,000 3.01 99,019 -13.65

Crude degummed soybean oil 95,000 91,000 4.40 132,250 -28.17
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 80,200 78,700 1.91 89,373 -10.26

Solvent extracted oils
Soyabean oil (Indore) 92,000 86,000 6.98 131,750 -30.17

Rice bran oil (RG-I) 77,000 74,000 4.05 114,231 -32.59
Rice bran oil (RG-II) (industrial) 74,000 71,000 4.23 111,231 -33.47

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

Chemical Weekly November 28, 2023 207

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