Page 203 - CW E-Magazine (22-10-2024)

Vegetable Oil Market

Rapeseed, Sunfl ower and Sesame move down

Downtrend prevailed in the market during the past week under
review. Rapeseed, Sunfl ower and Sesame oils eased lower in the range
of 2-3% each, while Cottonseed oil fell by around 7%. Groundnut
oil moved up by over a percent and Linseed oil gained marginally.
Castor oil remained steady. Among imported oils, RBD palmolein fell
by about a percent and crude Palm was down by around 5%, while
crude degummed Soyabean eased lower by over a percent. In solvent
extracted oils, Soyabean was down by about 3%, while Rice brans fell
in the range of 3.50-4.50%. Neem oil was down marginally. Comparing
the prices of some of the oils over the same period last year, groundnut
is cheaper by 6%. Rapeseed is up by 35%, while linseed is costlier by
39% and sunflower is up by 44%. Sesame is up by 2% and castor is up
by 10%, while cottonseed is costlier by 41%.

Oct-2024 Oct-2024 Change Average Change
Name of oils
11th 4th [%] Oct-2023 [%]

Local oils
Groundnut oil 150,000 147,500 1.69 159,500 -5.96
Rapeseed oil 142,000 146,000 -2.74 105,167 35.02

Sunfl ower oil 119,000 122,000 -2.46 82,521 44.21
Linseed oil 125,500 125,000 0.40 90,296 38.99

Sesame oil 250,000 255,000 -1.96 246,375 1.47
Washed cottonseed oil 121,000 130,000 -6.92 85,604 41.35
Castor oil (commercial) 135,500 135,500 – 123,313 9.88
Imported oils

RBD palmolein 127,000 128,000 -0.78 82,088 54.71
Crude degummed soybean oil 117,500 119,000 -1.26 86,979 35.09
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 123,000 129,000 -4.65 77,713 58.27
Solvent extracted oils
Soyabean oil (Indore) 117,500 121,000 -2.89 84,313 39.36

Rice bran oil (RG-I) 110,000 114,000 -3.51 75,375 45.94
Rice bran oil (RG-II) (industrial) 106,000 111,000 -4.50 72,375 46.46
Neem oil 163,000 164,000 -0.61 – –

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

Chemical Weekly October 22, 2024 203

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