Page 197 - CW E-Magazine (17-9-2024)

Vegetable Oil Market

Groundnut, Rapeseed, Sunfl ower move up

Mixed trends prevailed in the market during the past week
under review. Groundnut oil was up by almost 5%, while
Rapeseed oil gained 2.40%. Sunfl ower and Cottonseed oils
moved up by a percent. Sesame oil slipped by over a percent,
even as Linseed and Castor oils fell by around half a percent.
Among imported oils, RBD palmolein, crude Palm and crude
degummed Soyabean moved up by over a percent each. In
solvent extracted oils, Soyabean was up by half a percent, while
Rice brans and Neem oil remained fi rm.Comparing the prices
of some of the oils over the same period last year, groundnut
is cheaper by 15%. Rapeseed is up by 16%, while linseed and
sunfl ower is up by over 5%. Sesame is cheaper by 4%. Castor
is cheaper by 2%, while cottonseed is costlier by 9%.

Sep-2024 Aug-2024 Change Average Change
Name of oils
6th 30th [%] Aug-2023 [%]

Local oils
Groundnut oil 160,000 152,500 4.92 187,173 -14.52
Rapeseed oil 128,000 125,000 2.40 110,750 15.58

Sunfl ower oil 94,000 93,000 1.08 89,019 5.60
Linseed oil 104,000 104,500 -0.48 99,019 5.03

Sesame oil 245,000 248,000 -1.21 254,462 -3.72
Washed cottonseed oil 100,000 99,000 1.01 92,000 8.70
Castor oil (commercial) 126,000 126,500 -0.40 128,288 -1.78
Imported oils

RBD palmolein 98,000 97,000 1.03 85,346 14.83
Crude degummed soybean oil 94,000 93,000 1.08 90,923 3.38
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 94,500 93,000 1.61 81,088 16.54
Solvent extracted oils
Soyabean oil (Indore) 93,000 92,500 0.54 89,346 4.09

Rice bran oil (RG-I) 89,000 89,000 – 87,154 2.12
Rice bran oil (RG-II) (industrial) 83,000 83,000 – 84,154 -1.37
Neem oil 163,000 163,000 – 80,120 –

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

Chemical Weekly September 17, 2024 197

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