India’s sunflower oil imports fall to four-year low
India’s sunflower oil imports plunged 36% month-on-month to 103,000 tonnes in September, the lowest since April 2022, due to Black Sea supply disruptions. Palm oil imports rose 3.5% to 810,000 tonnes, while soyoil fell 4.6%. Total edible oil imports declined 3.75% to 1.5 million tonnes.
India’s sunflower oil imports fell 36% m/m in September to 103 thsd tons, the lowest level since April 2022. The main reason was disruption to supplies from the Black Sea region.
Amid logistics problems affecting sunflower oil shipments, Indian refiners increased palm oil purchases. Palm oil imports rose 3.5% in September to 810 thsd tons, the highest level in seven months.
At the same time, soyoil imports fell 4.6% from the previous month’s record high to 600 thsd tons. Total edible oil imports declined 3.75% to 1.5 mln tons.
Palm oil demand is also being supported by preparations for the festival season, when edible oil consumption in India typically rises. India sources most of its palm oil from Indonesia and Malaysia, while sunflower and soyoil are imported mainly from Argentina, Brazil, Russia and Ukraine.
Market participants expect sunflower oil imports to remain low in October due to logistics constraints. This could continue to support India’s demand for palm oil and provide additional support to palm oil prices.
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Source : UkrAgroConsult
