Page 195 - CW E-Magazine (24-9-2024)

Vegetable Oil Market

Rapeseed, Sunfl ower, Linseed gain; Groundnut falls

Uptrend prevailed in the market during the past week under
review. Rapeseed oil moved up by 7%, while Sunfl ower and
Linseed oils gained around 4% each. Cottonseed oil moved up
by 8%. Sesame and Castor oils fi rmed up by around a percent each.
Groundnut oil, however, fell by almost 8%. Among imported
oils, RBD palmolein, crude Palm and crude degummed
Soyabean moved up by in the range of 3.5 to 6%. In solvent
extracted oils, Soyabean was up by over 2%, while Rice brans
gained around 7% and Neem oil remained fi rm. Comparing
the prices of some of the oils over the same period last year,
groundnut is cheaper by 19%. Rapeseed is up by 31%, while linseed
is costlier by 15% and sunfl ower is up by over 20%. Sesame and
castor are at the same levels, while cottonseed is costlier by 28%.

Sep-2024 Sep-2024 Change Average Change
Name of oils
13th 6th [%] Sep-2023 [%]

Local oils
Groundnut oil 147,500 160,000 -7.81 182,521 -19.19
Rapeseed oil 137,000 128,000 7.03 104,417 31.20

Sunfl ower oil 98,000 94,000 4.26 81,313 20.52
Linseed oil 108,000 104,000 3.85 93,958 14.94

Sesame oil 248,000 245,000 1.22 250,292 -0.92
Washed cottonseed oil 108,000 100,000 8.00 84,458 27.87
Castor oil (commercial) 127,000 126,000 0.79 127,000 –
Imported oils

RBD palmolein 101,500 98,000 3.57 82,483 23.06
Crude degummed soybean oil 98,000 94,000 4.26 86,354 13.49
(ex-Mumbai)

Crude palm oil (5%) (ex-Kandla) 100,000 94,500 5.82 77,888 28.39
Solvent extracted oils
Soyabean oil (Indore) 95,000 93,000 2.15 84,042 13.04

Rice bran oil (RG-I) 95,000 89,000 6.74 81,750 16.21
Rice bran oil (RG-II) (industrial) 89,000 83,000 7.23 78,750 13.02
Neem oil 163,000 163,000 – – –

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

Chemical Weekly September 24, 2024 195

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