India's purchases of Russian sunflower oil rose in March amid absence of Ukraine

Published 2022년 3월 25일

Tridge summary

Indian vegetable oil buyers are expected to receive between 30,000 and 40,000 tons of sunflower oil from Russia in March due to the conflict in Ukraine, which has stopped the movement of goods in Ukrainian ports. India imported significant amounts of sunflower oil from both Ukraine and Russia in the first four months of the 2021-22 marketing year. With domestic buyers showing less interest in importing palm oil, they can fill the supply gap using local oils. Russia is going to open a corridor for the exit of foreign ships from Ukrainian ports, which could potentially allow stuck ships to leave.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Indian vegetable oil buyers will receive between 30,000 and 40,000 tons of Russian-derived sunflower oil in March, with shipments from Ukraine's largest supplier still stuck in ports due to the conflict, S&P Global Commodity Insights traders said March 23. “Buyers are unsure about bank sanctions, but one ship of around 15,000-18,000 tons SFO has been loaded for India and another is expected to be loaded at the end of March,” said Mukesh Goyal, head of Indian business in Singapore. commodity company Saveraa International. Sources say that due to the conflict, the movement of goods in the ports of Ukraine has stopped since the last week of February, about 360,000 tons of Ukrainian SFD destined for Indian shores are currently stuck in ports. India imported 715,934t SFO from Ukraine and 121,323t from Russia in the first four months of the Indian vegetable oil marketing year 2021-22 (November-February), according to SEA Trade Organization data on March 14. About 152,000 tons of SFO ...

Source: Oilworld