Page 213 - CW E-Magazine (13-8-2024)

Vegetable Oil Market

Groundnut, Linseed and Sunfl ower move down

Mixed trends prevailed in the market during the past week
under review. Groundnut oil eased down by almost 5% and
Linseed oil fell by a percent. Sunfl ower and Cottonseed oils
moved down by half a percent. Rapeseed and Castor oils gained
marginally, while Sesame oil remained steady. Among imported
oils, RBD palmolein was up by over a percent and crude Palm
gained over 2%, while crude degummed Soyabean went down
by over 2%. In solvent extracted oils, Soyabean was down
by over a percent, while Rice brans and Neem oil held fi rm.
Comparing the prices of some of the oils over the same period
last year, groundnut is cheaper by 20% and sunfl ower is up by
3%. Rapeseed is up by 5% and linseed is at the same level. Sesame is cheaper by over 4%. Castor is cheaper
by 2%, while cottonseed is marginally higher.

Aug-2024 July-2024 Change Average Change
Name of oils
2nd 26th [%] Aug-2023 [%]

Local oils
Groundnut oil 150,000 157,500 -4.76 187,173 -19.86
Rapeseed oil 116,500 116,000 0.43 110,750 5.19

Sunfl ower oil 91,500 92,000 -0.54 89,019 2.79
Linseed oil 99,000 100,000 -1.00 99,019 -0.02

Sesame oil 245,000 245,000 – 254,462 -3.72
Washed cottonseed oil 92,500 93,000 -0.54 92,000 0.54
Castor oil (commercial) 126,000 125,500 0.40 128,288 -1.78
Imported oils

RBD palmolein 91,500 90,500 1.10 85,346 7.21
Crude degummed soybean oil 89,000 91,000 -2.20 90,923 -2.11
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 87,500 85,700 2.10 81,088 7.91
Solvent extracted oils
Soyabean oil (Indore) 88,500 89,500 -1.12 89,346 -0.95

Rice bran oil (RG-I) 87,000 87,000 – 87,154 -0.18
Rice bran oil (RG-II) (industrial) 82,000 82,000 – 84,154 -2.56
Neem oil 163,000 163,000 – – –

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

Chemical Weekly August 13, 2024 213

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