Page 219 - CW E-Magazine (10-10-2023)

Vegetable Oil Market

Groundnut and Linseed move down

Mixed trends prevailed in the vegetable oils market during the
past week under review. Groundnut oil dropped by almost 8% while
Linseed oil fell by around 4%. Sunfl ower and Rapeseed oils gained
almost 2% while Cottonseed oil gained marginally. Sesame and
Castor oils remained steady. Among imported oils, RBD palmolein and
crude Palm moved up by around 4%, while crude degummed Soyabean
gained 1.80%. In solvent extracted oils, Soyabean was up by 3.75%,
while Rice brans remained steady. Comparing the prices of some of
the oils over the same period last year, groundnut is costlier by 9% and
sunfl ower is down by 38%. Rapeseed is down by 20% and linseed is
cheaper by 27%. Sesame is costlier by 13%. Castor is cheaper by 15%,
while cottonseed is down by 33%.

Sep-2023 Sep-2023 Change Average Change
Name of oils
29th 22nd [%] Sep-2022 [%]
Local oils

Groundnut oil 180,000 195,000 -7.69 164,923 9.14
Rapeseed oil 104,000 102,000 1.96 130,077 -20.05

Sunfl ower oil 79,500 78,000 1.92 128,615 -38.19

Linseed oil 87,500 91,000 -3.85 119,154 -26.57
Sesame oil 250,000 250,000 – 222,115 12.55

Washed cottonseed oil 83,500 83,000 0.60 124,577 -32.97

Castor oil (commercial) 126,500 126,500 – 148,577 -14.86
Imported oils

RBD palmolein 82,500 79,000 4.43 93,385 -11.66

Crude degummed soybean oil 85,000 83,500 1.80 112,269 -24.29
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 78,200 75,200 3.99 83,900 -6.79

Solvent extracted oils

Soyabean oil (Indore) 83,000 80,000 3.75 111,519 -25.57
Rice bran oil (RG-I) 79,000 79,000 – 105,192 -24.90

Rice bran oil (RG-II) (industrial) 76,000 76,000 – 102,192 -25.63
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India

Chemical Weekly October 10, 2023 219

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