Ukraine regained leadership in sunflower oil exports to India in January
About 459 thsd tonnes of sunflower oil were imported to India last month, according to the latest data of the market operators. It is reported by Reuters. It is noted that the figure is more than twice higher than the import volumes of the product, which were recorded in December 2022.
According to the available information, Ukraine was the main supplier of sunflower oil to India during the reporting period, supplying 155.7 thsd tonnes to the Asian market. Russia followed with 82 thsd tonnes. Bulgaria rounds out the top three.
Small volumes of sunflower oil were also received from Argentina, Poland, Romania and Turkey.
“The supply of sunflower oil has increased to an extraordinary level. We never thought that India would be able to import so much in a month,” said one market participant. As a reminder, the decision of the Indian authorities to introduce duty-free imports of sunflower oil until March 2024 makes the purchase of this product quite profitable.
The main suppliers of palm oil to India are Indonesia, Malaysia and Thailand. Soybean oil is mainly purchased by traders from Argentina and Brazil. Sunflower oil is purchased from Ukraine and Russia.
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