India is waiting for the supply of sunflower oil from Russia

Published 2022년 3월 29일

Tridge summary

Due to the conflict in Ukraine, India's usual supplier of sunflower oil, India is seeking to import more sunflower oil from Russia if payment and logistical issues can be resolved. The country has already increased purchases from Argentina and expects to receive a similar amount of sunflower oil to the domestic market by the end of March 2022. The estimated supply of sunflower oil in April is about 100 thousand tons. India's consumption of sunflower oil is about 10% of the total figure among all types of vegetable oils, and the country is focused on increasing the total production of all oilseeds to reduce its dependence on imported edible oils. The current situation is leading to a decrease in the consumption of vegetable oils in the country in MY 2021/22 due to high global prices for products and supply chain failures.

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

Original content

According to B. V. Mehta, Executive Director of the Indian Vegetable Oil Association (Solvent Extractors' Association of India, SEA), in 2022, India can import more sunflower oil from Russia than usual, subject to clarity regarding the method of payment and eliminating a number of logistical difficulties, news outlets report. At the moment, some importers have increased their purchases from Argentina and some shipments of sunflower oil will be received from this country. The main seller of sunflower oil to India was Ukraine, but now, due to the conflict, the supply chains are broken. In February, according to the director of SEA, about 152 thousand tons of the product arrived in India. Now it is expected that a similar amount will be imported to the domestic market by the end of March 2022. According to B.V. Mehta, now, the estimated supply of sunflower oil in April is about 100 thousand tons. Last season, according to the USDA, India purchased about 2,000,000 tons of sunflower ...

Source: Oilworld