Tridge summary
India is planning to increase its sunflower oil imports from Argentina and Russia due to potential supply disruptions from Ukraine, which could lead to a sharp increase in prices. The country has already contracted around 60,000 tons of oil from these two countries for delivery in February-March of this year. In the last marketing year ending in 2020/21, India purchased 1.89 million tons of crude oil, with 74% coming from Ukraine and 12% each from Russia and Argentina.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
India may increase the import of sunflower oil from Argentina and Russia due to fears of a disruption in the supply of the product from Ukraine, in the event of an aggravation of the situation, APK-Inform reports citing Bloomberg. As noted, the country has contracted about 60,000 tons of oil from Russia and Argentina for delivery in February-March of this year, according to Sandeep Bajoria, president of the International Sunflower Oil Association. At the same time, according to S. Bajoria, Indian importers are extremely concerned that the supply of sunflower oil from Ukraine may be suspended. In turn, at the moment trading activity is stable. Ukraine and Russia occupy a total of 80% of the sunflower oil market in India. At the end of 2020/21 MY, India purchased 1.89 million tons of ...
Source: Oilworld
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