Page 203 - CW E-Magazine (30-1-2024)

Vegetable Oil Market

Groundnut, Rapeseed and Linseed move down

Most oils moved in a narrow range during the past week under
review. Groundnut oil was down by around 1.60%, while
Rapeseed and Linseed oils eased lower by under a percent.
Sunfl ower oil remained unmoved, while Sesame and Castor oils
gained marginally. Cottonseed oil gained over a percent. Among
imported oils, RBD palmolein was up by over 0.50%, while crude
Palm gained over a percent. Crude degummed Soyabean was
down by over half a percent. In solvent extracted oils, Soyabean
moved down by 1.71%, while Rice brans were down by over
a percent. Comparing the prices of some of the oils over the same
period last year, groundnut is cheaper by 6% and sesame is down by 2%. Sunfl ower, rapeseed and linseed
are cheaper by around 24%. Castor is cheaper by 16%, while cottonseed is cheaper by 26%.

Jan-2024 Jan-2024 Change Average Change
Name of oils
19th 12th [%] Jan-2023 [%]

Local oils
Groundnut oil 152,500 155,000 -1.61 161,960 -5.84

Rapeseed oil 100,000 101,000 -0.99 133,120 -24.88
Sunfl ower oil 87,000 87,000 – 115,680 -24.79

Linseed oil 92,500 93,000 -0.54 121,200 -23.68
Sesame oil 250,000 248,000 0.81 254,200 -1.65

Washed cottonseed oil 87,000 86,000 1.16 117,580 -26.01
Castor oil (commercial) 122,000 121,500 0.41 145,808 -16.33

Imported oils
RBD palmolein 85,500 85,000 0.59 93,504 -8.56

Crude degummed soybean oil 88,500 89,000 -0.56 116,080 -23.76
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 80,200 79,200 1.26 84,732 -5.35

Solvent extracted oils
Soyabean oil (Indore) 86,000 87,500 -1.71 122,600 -29.85

Rice bran oil (RG-I) 71,500 72,500 -1.38 97,420 -26.61
Rice bran oil (RG-II) (industrial) 68,500 69,500 -1.44 94,460 -27.48

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

Chemical Weekly January 30, 2024 203

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