Russia may expand supplies of refined oil to India

Ilya Ilyushin, independent expert of the oil and fat industry “In the first 5 months of 2023, more than 270 thousand tons of sunflower oil and almost 40 thousand tons of soybean oil were supplied from Russia to India. However, all this volume is accounted for by crude oil. In recent years, Russia has not actually sold refined oil to the South Asian country, where a large number of its own refining plants actually had protective duties on the import of goods in consumer packaging. India's reduction of import duties on refined sunflower and soybean oils gives Russian exporters a chance to start deliveries of these products - both in flexitanks and bottles. Economically, this is more attractive for Russian manufacturers. I don't expect it to be big as India is still looking to process and pack itself. However, there is an opportunity for vegetable oil labeled “Made in Russia” to appear on the shelves of Indian stores. Further, much will depend on the cost of logistics, marketing ...