May 2026
India Reshapes Import Map
Early May 2026 has brought major shifts to the global vegetable oil market. India, the world’s largest importer, has significantly restructured its purchasing strategy. Due to a severe gas crisis and shortages of LNG for industrial frying, palm oil imports fell to a yearly low of 505 thsd tons, down 27% from March. The gap was rapidly filled by sunflower oil, with imports more than doubling to 435 thsd tons — the highest level in 22 months.
Indian traders are actively building stocks, creating favorable conditions for exporters. Sunflower oil crushing margins have outperformed competing oils, increasing the attractiveness of the crop. Much of the demand was secured earlier, but current geopolitical tensions are reinforcing the trend.
Argentina Bets on Sunflower
Argentina is steadily expanding its presence. In the 2025/26 season, sunflower planting exceeded 3 mln ha, with production forecast at 7.2 mln tons — up 28.6% year-on-year. In Santa Fe province, planted area increased by 500 thsd ha, with some districts tripling acreage.
Experts highlight both agronomic and economic drivers: sunflower is drought-resistant, fits well into crop rotations, and benefits from strong demand from crushers. Early planting delivers higher yields and oil content. Argentine sunflower oil is already pressuring global prices, holding FOB levels at $1270–1300/t.
Europe: Lower Imports, More Domestic Focus
The European Union has reduced imports this season. Soybean imports declined by 10% to 10.54 mln tons, rapeseed by 29% to 4.12 mln tons. Sunflower oil imports dropped by 23% to 1.58 mln tons, while soybean oil and rapeseed oil imports increased significantly.
At the same time, interest in sunflower (the crop) within Europe is growing. Cargill is investing $150 mln in upgrading its Saint-Nazaire plant in France, shifting toward high-protein sunflower meal production and reducing reliance on imports. The project also includes biomass energy use from sunflower husks.
Russia: Delayed Start to Sowing
In Russia, the sowing campaign has been delayed. As of early May, only 10.2% of the planned area — 1.23 mln ha — has been planted. Cold weather pushed back fieldwork across key regions.
However, a short period of warm and dry weather has opened a window to accelerate planting. The main sowing phase will be concentrated in mid-May. Delays have already pushed up prices for sunflower seed and sunflower oil.
Ukraine: Rising Competition for Raw Materials
In Ukraine, prices for sunflower seed continue to rise amid tight supply and strong demand. Purchase prices have reached UAH 32,500–33,000/t (CPT plant).
At the same time, the high-oleic segment is recovering more slowly. While the EU has reduced imports, demand from Asia and North America is growing. Export destinations are diversifying, reducing reliance on the European market.
Conclusion: Tight Timeline Battle
The global sunflower market is at a pivotal point, balancing record demand with expanding supply. India is driving demand, Argentina is boosting production, and Europe is investing in domestic processing.
