The expert told how much India will reduce the import of Ukrainian sunflower oil

Published Oct 5, 2020

Tridge summary

India is set to reduce its sunflower oil purchases from Ukraine by 12% in the 2020/21 season due to a significant price spread between sunflower and soybean oil. The country, which is the world's largest importer of edible vegetable oils, is experiencing unusual price fluctuations that have not been observed in several years. This price sensitivity has led to a decrease in India's expected oil imports from 2.5 million tons to 2.2 million tons in the 2020/21 marketing year.

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

Original content

Recently, sunflower oil prices have traded at an unusually large spread to soybean oil. At the same time, the cost of production practically did not lag behind the prices of more premium domestic Indian peanut butter. The country is expected to reduce purchases of sunflower oil from Ukraine in the 2020/21 season by 12%. Sandeep Bajoria, CEO of Sunvin Group, told about this in an interview with Latifundist.com. “India is the largest importer of edible vegetable oils, but at the same time, this market is very sensitive to price fluctuations: elastic demand for liquid oils usually fluctuates between soybean and sunflower oil, and the price range between them is the main decisive factor in determining the choice”, - noted by Sandip Bajoria. Read on the topic: Storage of sunflower - what should be considered in order not to lose the quality of the oilseed? As the head said, the price situation, as in the current season, has not been observed for the last few years. This led to the fact ...

Source: Elevatorist