Page 213 - CW E-Magazine (24-10-2023)

Vegetable Oil Market

Downtrend in Groundnut and Linseed

Mixed trends prevailed in the market during the past week under
review. Groundnut oil fell by over 6% and Linseed oil dropped by over 3%.
Rapeseed oil gained 3% while Sunflower and Cottonseed oils
moved up by over a percent. Sesame and Castor oils were down in the
range of 1.6 to 2%. Among imported oils, RBD palmolein and crude
Palm are up by around 2%, while crude degummed Soyabean gained
over 3.5%. In solvent extracted oils, Soyabean was up by 3.70%, while
Rice brans were down by over 6% each. Comparing the prices of some
of the oils over the same period last year, groundnut is cheaper by 6%
and sunfl ower is down by 42%. Rapeseed is down by 20% and linseed is
cheaper by 31%. Sesame is costlier by 10%. Castor is cheaper by 15%,
while cottonseed is cheaper by 36%.

Oct-2023 Oct-2023 Change Average Change
Name of oils
13th 06th [%] Oct-2022 [%]
Local oils

Groundnut oil 155,000 165,000 -6.06 164,136 -5.57
Rapeseed oil 106,000 103,000 2.91 133,295 -20.48

Sunfl ower oil 81,000 80,000 1.25 138,955 -41.71

Linseed oil 87,000 90,000 -3.33 125,455 -30.65
Sesame oil 245,000 250,000 -2.00 223,364 9.69

Washed cottonseed oil 84,000 82,500 1.82 130,727 -35.74

Castor oil (commercial) 123,000 125,000 -1.60 144,545 -14.91
Imported oils

RBD palmolein 82,000 80,500 1.86 94,886 -13.58

Crude degummed soybean oil 87,000 84,000 3.57 120,864 -28.02
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 77,700 76,200 1.97 86,677 -10.36

Solvent extracted oils

Soyabean oil (Indore) 84,000 81,000 3.70 122,795 -31.59
Rice bran oil (RG-I) 74,000 79,000 -6.33 106,614 -30.59

Rice bran oil (RG-II) (industrial) 71,000 76,000 -6.58 103,614 -31.48
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India

Chemical Weekly October 24, 2023 213

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