Page 209 - CW E-Magazine (21-11-2023)

Vegetable Oil Market

Groundnut, Linseed down; Sunfl ower gains

Mixed trends prevailed in the market during the past week under
review. Groundnut oil was down by 2%, while Linseed oil dropped
by over a percent. Sunfl ower oil moved up by over a percent even as
Castor oil gained 0.84%. Cottonseed oil was down by almost 3%.
Sesame and Rapeseed oils remained unmoved. Among imported
oils, RBD palmolein was up by over a percent, while crude Palm
held fi rm and crude degummed Soyabean moved up by 2.25%.
In solvent extracted oils, Soyabean was down by 0.58%, while Rice
brans gained around 0.70%. Comparing the prices of some of the
oils over the same period last year, groundnut is cheaper by 2% and
sunfl ower is down by 37%. Rapeseed is down by 27% and linseed
is cheaper by 35%. Sesame is costlier by 7%. Castor is cheaper by 18%,
while cottonseed is cheaper by 34%.

Nov-2023 Nov-2023 Change Average Change
Name of oils
10th 03rd [%] Nov-2022 [%]

Local oils
Groundnut oil 150,000 153,000 -1.96 153,443 -2.24

Rapeseed oil 105,000 105,000 – 143,077 -26.61
Sunfl ower oil 86,000 85,000 1.18 137,192 -37.31

Linseed oil 90,000 91,000 -1.10 137,596 -34.59
Sesame oil 245,000 245,000 – 229,692 6.66

Washed cottonseed oil 86,000 88,500 -2.82 131,212 -34.46
Castor oil (commercial) 120,500 119,500 0.84 146,346 -17.66

Imported oils
RBD palmolein 83,000 82,000 1.22 99,019 -16.18

Crude degummed soybean oil 91,000 89,000 2.25 132,250 -31.19
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 78,700 78,700 – 89,373 -11.94

Solvent extracted oils
Soyabean oil (Indore) 86,000 86,500 -0.58 131,750 -34.72

Rice bran oil (RG-I) 74,000 73,500 0.68 114,231 -35.22
Rice bran oil (RG-II) (industrial) 71,000 70,500 0.71 111,231 -36.17

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

Chemical Weekly November 21, 2023 209

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