Page 193 - CW E-Magazine (1-10-2024)

Vegetable Oil Market

Linseed, Sunfl ower and Cottonseed move up

Uptrend prevailed in the market during the past week under
review. Sunfl ower and Linseed oils surged by 19% and 21%,
respectively, while Cottonseed oil moved up by 14%. Rapeseed
oil fi rmed up by 6%, while Castor oil gained over 3%. Sesame
oil moved up marginally, even as Groundnut oil remained steady.
Among imported oils, RBD palmolein, crude Palm and crude
degummed Soyabean moved up in the range of 18 to 22%. In solvent
extracted oils, Soyabean was up by over 19%, while Rice brans
gained over 16% and Neem oil remained fi rm. Comparing the
prices of some of the oils over the same period last year, groundnut
is cheaper by 19%. Rapeseed is and linseed are up by 39%, while
sunfl ower is costlier by over 43%. Sesame is unchanged, while
castor is up by 4% and cottonseed is costlier by 46%.

Sep-2024 Sep-2024 Change Average Change
Name of oils
20th 13th [%] Sep-2023 [%]

Local oils
Groundnut oil 147,500 147,500 – 182,521 -19.19
Rapeseed oil 145,000 137,000 5.84 104,417 38.87

Sunfl ower oil 116,500 98,000 18.88 81,313 43.27
Linseed oil 131,000 108,000 21.30 93,958 39.42

Sesame oil 250,000 248,000 0.81 250,292 -0.12
Washed cottonseed oil 123,000 108,000 13.89 84,458 45.63
Castor oil (commercial) 131,300 127,000 3.39 127,000 3.39
Imported oils

RBD palmolein 120,000 101,500 18.23 82,483 45.48
Crude degummed soybean oil 119,000 98,000 21.43 86,354 37.80
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 119,500 100,000 19.50 77,888 53.43
Solvent extracted oils
Soyabean oil (Indore) 113,000 95,000 18.95 84,042 34.46

Rice bran oil (RG-I) 110,000 95,000 15.79 81,750 34.56
Rice bran oil (RG-II) (industrial) 107,000 89,000 20.22 78,750 35.87
Neem oil 163,000 163,000 – 80,120 –

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

Chemical Weekly October 1, 2024 193

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