Page 189 - CW E-Magazine (6-2-2024)

Vegetable Oil Market

Groundnut down; Sesame gains

Fairly steady trends prevailed in the market during the
past week under review. Groundnut oil was down by over
a percent, while Sesame oil moved up by 2% and Linseed
oil gained marginally. Other local oils remained fi rm. Among
imported oils, RBD palmolein and crude Palm was up by
over a percent, while crude degummed Soyabean dropped
marginally was. In solvent extracted oils, Soyabean was
down by 1.74%, and Rice brans moved down by around
0.70%. Comparing the prices of some of the oils over the
same period last year, groundnut is cheaper by 7%, while
sunfl ower, rapeseed and linseed are cheaper by around 24%.
Sesame is marginally costlier. Castor is cheaper by 16%,
while cottonseed is cheaper by 26%.

Jan-2024 Jan-2024 Change Average Change
Name of oils
25th 19th [%] Jan-2023 [%]

Local oils
Groundnut oil 150,000 152,500 -1.64 161,960 -7.38

Rapeseed oil 100,000 100,000 – 133,120 -24.88
Sunfl ower oil 87,000 87,000 – 115,680 -24.79

Linseed oil 93,000 92,500 0.54 121,200 -23.27
Sesame oil 255,000 250,000 2.00 254,200 0.31

Washed cottonseed oil 87,000 87,000 – 117,580 -26.01
Castor oil (commercial) 122,000 122,000 – 145,808 -16.33

Imported oils
RBD palmolein 86,500 85,500 1.17 93,504 -7.49

Crude degummed soybean oil 88,000 88,500 -0.56 116,080 -24.19
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 81,200 80,200 1.25 84,732 -4.17

Solvent extracted oils
Soyabean oil (Indore) 84,500 86,000 -1.74 122,600 -31.08

Rice bran oil (RG-I) 71,000 71,500 -0.70 97,420 -27.12
Rice bran oil (RG-II) (industrial) 68,000 68,500 -0.73 94,460 -28.01

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

Chemical Weekly February 6, 2024 189

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