India’s demand for sunflower oil will grow

India may increase sunflower oil purchases to 2.6 MMT in MY 2019/20 (up 8% from MY 2018/19), said Sunvin Group President Mr. Sandeep Bajoria.

According to forecasts, the annual volume of sunflower oil imports may exceed 3 MMT from MY 2020/21 and reach 3.5 MMT in the long term, by MY 2022/23, reports UkrAgroConsult.

India imports the product mostly from Ukraine (90% in MY 2018/19), Russia and Argentina.

In MY 2019/20, supplies of Ukrainian sunflower oil are expected to drop by 24%, to 66%, with imports from Russia up at 25% against 4% a year ago and deliveries from Argentina up at 9% against 6%.

In September, India reduced its purchases to this year’s low of 126.8 KMT from 230 KMT in August, because of high sunoil inventories in the country (152 KMT).

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