Page 205 - CW E-Magazine (15-10-2024)

Vegetable Oil Market

Cottonseed, Groundnut, Castor and Rapeseed down

Mixed trends prevailed in the market during the past week under
review. Groundnut oil moved down by around 2%, while Cottonseed
oil was down by over 2.7% and Castor oil was down by around 1.50%,
while Rapeseed oil was down marginally. Sunfl ower, Linseed and
Sesame oils remained unmoved. Among imported oils, RBD palmolein
remained steady and crude Palm fell by about a percent while crude
degummed Soyabean held steady. In solvent extracted oils, Soyabean
was down by half a percent, while Rice bran RG-I gained around
a percent, RG-II was down by 1.40% and Neem oil gained just over
0.60%. Comparing the prices of some of the oils over the same period
last year, groundnut is cheaper by 18%. Rapeseed is up by 39%, while
linseed is costlier by 34% and sunfl ower is up by 47%. Sesame is up
by 2% and castor is up by 4%, while cottonseed is costlier by 53%.

Oct-2024 Sep-2024 Change Average Change
Name of oils
4th 27th [%] Sep-2023 [%]

Local oils
Groundnut oil 147,000 150,000 -2.00 182,521 -19.46
Rapeseed oil 145,000 145,500 -0.34 104,417 38.87

Sunfl ower oil 119,500 119,500 – 81,313 46.96
Linseed oil 126,000 126,000 – 93,958 34.10

Sesame oil 255,000 255,000 – 250,292 1.88
Washed cottonseed oil 125,500 129,000 -2.71 84,458 48.59
Castor oil (commercial) 134,000 136,000 -1.47 127,000 5.51
Imported oils

RBD palmolein 126,000 126,000 – 82,483 52.76
Crude degummed soybean oil 119,000 119,000 – 86,354 37.80
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 131,000 132,300 -0.98 77,888 68.19
Solvent extracted oils
Soyabean oil (Indore) 119,500 120,000 -0.42 84,042 42.19

Rice bran oil (RG-I) 113,000 112,000 0.89 81,750 38.23
Rice bran oil (RG-II) (industrial) 107,500 109,000 -1.38 78,750 36.51
Neem oil 164,000 163,000 0.61 – –

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

Chemical Weekly October 15, 2024 205

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