India can reduce imports of Ukrainian sunflower oil by 12%

Published 2020년 10월 6일

Tridge summary

India is set to reduce its sunflower oil purchases from Ukraine by 12% for the 2020/21 season, according to Sunvin Group CEO Sandip Baggioria. This decision is due to the unusually large spread between sunflower and soybean oil prices, a situation not seen in several years. The cost of producing sunflower oil in India has also reached levels similar to premium domestically produced peanut butter. As a result, India's imports of edible vegetable oils are expected to decrease from 2.5 million tonnes in 2020/21 to 2.2 million tonnes, with the price spread between sunflower and soybean oil being a key factor.

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Original content

Recently, sunflower oil prices have been trading with an unusually large spread to soybean oil. At the same time, the cost of production did not lag behind the prices of more premium peanut butter domestically produced in India. The country is expected to reduce sunflower oil purchases from Ukraine in the 2020/21 season by 12%. This was stated by Sunvin Group CEO Sandip Baggioria in an interview with Latifundist.com. "India is the largest importer of edible vegetable oils, but at the same time this market is very sensitive to price fluctuations: the elastic demand for liquid oils usually fluctuates between soybean and sunflower oil, and the spread of prices between them is the main deciding factor." noted Sandip Baggioria. According to the head, the price situation, as in the current season, has not been observed in the last few years. As a result, India ...

Source: Infoindustria