India is set to boost its sunflower oil imports from Argentina and Russia due to worries that shipments from Ukraine, the biggest supplier, will be disrupted if Russia invades, informed Bloomberg.
India bought about 60 thsd tonnes of sunflower oil from Russia and Argentina for shipments in February and March, according to Sandeep Bajoria, president of the International Sunflower Oil Association.
Indians are “really worried” that supplies from Ukraine will be curtailed, said Bajoria, who is also the chief executive officer of Mumbai-based Sunvin Group. “The trade is normal as of now but if the conflict flares up, it’s going to impact global vegetable oil prices.”
Ukraine and Russia account for almost 80% of the world’s sunflower oil shipments. India bought 1.89 mln tonnes of the crude variety of the cooking oil in the year ended October, with Ukraine supplying almost 74% and Argentina and Russia each accounting for about 12%.
You can get more detailed information about global market of vegetable oils at an international conference Fat-and-Oil Industry-2022, which will be held on March 17 in Odessa.
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