Головна Horticulture Oilseed Situation in Ukraine prompts India to look for sunflower oil from other...

Situation in Ukraine prompts India to look for sunflower oil from other sellers

India intends to increase imports of sunflower oil from Argentina and Russia, as it is seriously concerned about the possibility of supplies from Ukraine in case of Russian invasion.

This was reported by ProAgro Group, citing Bloomberg agency.

According to Sandeep Bajoria, president of the International Sunflower Oil Association, India, which is also the largest importer of palm and soybean oil, bought about 60,000 tons of sunflower oil from Russia and Argentina for deliveries in February and March.

“Trade is normal so far, but if the conflict escalates, it will affect global vegetable oil prices,” Bajoria said, noting that Indians are “really concerned” about a possible reduction in supplies from Ukraine.

Ukraine and Russia account for nearly 80 percent of the world’s sunflower oil supply. In October 2021 alone, India bought 1.89 million tons of crude oil, with Ukraine supplying nearly 74% and Argentina and Russia about 12% each.

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