Page 201 - CW E-Magazine (19-3-2024)

Vegetable Oil Market

Sunfl ower, Rapeseed and Sesame gain

Uptrend prevailed in the market during the past week under
review. Rapeseed, Sunfl ower, Sesame and Cottonseed oils
moved up in the range of 2-3%, while Linseed and Castor oils
gained over a percent. Groundnut oil, however, slipped by 2%.
Among imported oils, RBD palmolein and crude Palm
were costlier by over 3%, while crude degummed Soyabean
remained unmoved. In solvent extracted oils, Soyabean was
up by over 3%, while Rice brans gained over 2%. Comparing
the prices of some of the oils over the same period last year,
groundnut is cheaper by 14% and sunfl ower is down by 10%.
Rapeseed is down by 7% and linseed is cheaper by 12%.
Sesame is costlier by a percent. Castor is cheaper by 7%, while
cottonseed is cheaper by 4%.

Mar-2024 Mar-2024 Change Average Change
Name of oils
8th 1st [%] Mar-2023 [%]

Local oils
Groundnut oil 147,000 150,000 -2.00 170,080 -13.57

Rapeseed oil 102,000 99,300 2.72 110,160 -7.41
Sunfl ower oil 89,000 86,500 2.89 98,720 -9.85

Linseed oil 95,000 94,000 1.06 108,083 -12.10
Sesame oil 255,000 250,000 2.00 252,280 1.08

Washed cottonseed oil 95,500 93,500 2.14 99,820 -4.33
Castor oil (commercial) 123,000 121,000 1.65 132,896 -7.45

Imported oils
RBD palmolein 92,000 88,500 3.95 96,140 -4.31

Crude degummed soybean oil 92,500 92,500 – 98,740 -6.32
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 89,700 86,700 3.46 87,320 2.73

Solvent extracted oils
Soyabean oil (Indore) 92,000 89,000 3.37 104,000 -11.54

Rice bran oil (RG-I) 74,500 73,000 2.05 83,120 -10.37
Rice bran oil (RG-II) (industrial) 71,500 70,000 2.14 80,120 -10.76

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

Chemical Weekly March 19, 2024 201

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