Page 193 - CW E-Magazine (30-7-2024)

Vegetable Oil Market

Groundnut gains, Castor eases

Mixed trends prevailed in the market during the past week under
review. Groundnut oil was up by over 3.60%, while Castor oil
moved down by around 1.60% and Cottonseed oil dropped by half
a percent. Rapeseed, Sunflower, Linseed and Sesame oils remained
steady. Among imported oils, RBD palmolein was unmoved and
crude Palm was down marginally, while crude degummed Soyabean
ruled lower by over a percent. In solvent extracted oils, Soyabean
held firm, while Neem oil moved up by over half a percent and mixed
trends prevailed in Rice brans. Comparing the prices of some of the
oils over the same period last year, groundnut is cheaper by 15%
and sunflower is up by 3%. Rapeseed is up by 16% and linseed is
costlier by 5%. Sesame is cheaper by over 4%. Castor is cheaper by
2%, while cottonseed is cheaper by 4%.
July-2024 July-2024 Change Average Change
Name of oils
19th 12th [%] July-2023 [%]

Local oils
Groundnut oil 158,000 152,500 3.61 185,385 -14.77
Rapeseed oil 117,000 117,000 – 100,831 16.04

Sunfl ower oil 92,000 92,000 – 89,654 2.62
Linseed oil 100,000 100,000 – 95,231 5.01

Sesame oil 245,000 245,000 – 255,423 -4.08
Washed cottonseed oil 92,500 93,000 -0.54 96,058 -3.70
Castor oil (commercial) 123,500 125,500 -1.59 126,558 -2.42

Imported oils
RBD palmolein 91,000 91,000 – 87,365 4.16
Crude degummed soybean oil 91,500 92,500 -1.08 92,673 -1.27
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 85,700 86,000 -0.35 83,015 3.23
Solvent extracted oils
Soyabean oil (Indore) 90,500 90,500 – 90,058 0.49

Rice bran oil (RG-I) 87,000 86,500 0.58 83,154 4.63
Rice bran oil (RG-II) (industrial) 82,000 84,500 -2.96 80,154 2.30

Neem oil 163,000 162,000 0.62 – –
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India.

Chemical Weekly July 30, 2024 193

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