Page 203 - CW E-Magazine (3-9-2024)

Vegetable Oil Market

Rapeseed, Linseed and Cottonseed move up

Uptrend prevailed in the market during the past week under
review. Rapeseed, Linseed and Cottonseed oils moved up in the
range of 2-3%, while Sunfl ower and Sesame oils gained over a
percent each. Groundnut and Castor oils remained unmoved.
Among imported oils, RBD palmolein was up by over 4% and
crude Palm was up by around 3%, while Crude degummed
Soyabean gained over 2%. In solvent extracted oils, Soyabean
was up by 1.70%, while Rice brans remained steady, and Neem oil
moved up marginally. Comparing the prices of some of the oils
over the same period last year, groundnut is cheaper by 20% and
sunfl ower is up by 3%. Rapeseed is up by 9% and linseed is higher
by 2%. Sesame is cheaper by 3%. Castor is cheaper by 2%, while
cottonseed is costlier by 3%.

Aug-2024 Aug-2024 Change Average Change
Name of oils
23rd 16th [%] Aug-2023 [%]

Local oils
Groundnut oil 150,000 150,000 – 187,173 -19.86
Rapeseed oil 120,500 117,000 2.99 110,750 8.80

Sunfl ower oil 92,000 91,000 1.10 89,019 3.35
Linseed oil 101,000 98,500 2.54 99,019 2.00

Sesame oil 248,000 245,000 1.22 254,462 -2.54
Washed cottonseed oil 94,500 92,500 2.16 92,000 2.72
Castor oil (commercial) 126,000 126,000 – 128,288 -1.78
Imported oils

RBD palmolein 96,000 92,000 4.35 85,346 12.48
Crude degummed soybean oil 91,500 89,500 2.23 90,923 0.63
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 90,300 88,000 2.61 81,088 11.36
Solvent extracted oils
Soyabean oil (Indore) 89,500 88,000 1.70 89,346 0.17

Rice bran oil (RG-I) 87,000 87,000 – 87,154 -0.18
Rice bran oil (RG-II) (industrial) 82,000 82,000 – 84,154 -2.56
Neem oil 164,000 163,000 0.61

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

Chemical Weekly September 3, 2024 203

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