Page 197 - CW E-Magazine (31-10-2023)

Vegetable Oil Market

Groundnut, Linseed gain; Castor moves down

Mixed trends prevailed in the market during the past week under review.
Groundnut and Linseed oils were up by over 6% each, while Sunfl ower
and Cottonseed oils were up by 4.32% and 3.57% respectively. Rapeseed oil
was up by a percent. Castor oil was down by 0.41%. Sesame oil remained
steady. Among imported oils, RBD palmolein was steady. Crude palm
and crude degummed Soyabean were up by 0.64 and 2.30% respectively.
In solvent extracted oils, Soyabean oil was up by almost 3%, while Rice brans
RG-I and RG-II were up 2.70 and 2.82% each. Comparing the prices of some
of the oils over the same period last year, groundnut is costlier by a percent
and sunfl ower is down by 39%. Rapeseed is down by 20% and linseed is
cheaper by 26%. Sesame is costlier by 10%. Castor is cheaper by 15%, while
cottonseed is cheaper by 33%.

Oct-2023 Oct-2023 Change Average Change
Name of oils
20th 13th [%] Oct-2022 [%]
Local oils

Groundnut oil 165,000 155,000 6.45 164,136 0.53
Rapeseed oil 107,000 106,000 0.94 133,295 -19.73

Sunfl ower oil 84,500 81,000 4.32 138,955 -39.19

Linseed oil 93,000 87,000 6.90 125,455 -25.87
Sesame oil 245,000 245,000 – 223,364 9.69

Washed cottonseed oil 87,000 84,000 3.57 130,727 -33.45

Castor oil (commercial) 122,500 123,000 -0.41 144,545 -15.25
Imported oils

RBD palmolein 82,000 82,000 – 94,886 -13.58

Crude degummed soybean oil 89,000 87,000 2.30 120,864 -26.36
(ex-Mumbai)
Crude palm oil (5%) (ex-Kandla) 78,200 77,700 0.64 86,677 -9.78

Solvent extracted oils

Soyabean oil (Indore) 86,500 84,000 2.98 122,795 -29.56
Rice bran oil (RG-I) 76,000 74,000 2.70 106,614 -28.71

Rice bran oil (RG-II) (industrial) 73,000 71,000 2.82 103,614 -29.55
Note: Rates in Rs. per ton.
Source: Solvent Extractors Association of India

Chemical Weekly October 31, 2023 197

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