India may cut sunflower oil imports after grain deal halted

India, after the termination of the grain deal, may reduce imports of sunflower oil by 30% in the coming months. This was reported by Reuters. So, in July, India can import about 275 thousand tons of sunflower oil. But since August this figure may drop to 200 thousand tons due to the growth in the cost of this product, the agency notes. Over the past month and a half, spot prices for it have increased from $850 per ton to $965 amid the approaching date of the end of the grain deal. "Uncertainty in the sunflower oil market will force some producers to switch to palm and soybean oil, which will be more affordable," Sandeep Bajoria, director of edible oil consultancy Sunvin Group, said. India traditionally buys palm oil from Indonesia, Malaysia and Thailand, and soybean oil from Argentina, Brazil and the United States. The grain deal ended on July 17. Moscow, which several times extended the agreement concluded in July 2022 on the Black Sea corridor for ships with Ukrainian grain, ...