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The Solvent Extractors’ Association (SEA) of India feel that the shortfall of the sunflower oil availability due to the war between Russia and Ukraine – two major producers of sunflower – could be met through the higher domestic availability of soyabean and mustard oil.
In the monthly update on the vegetable oil imports for February, BV Mehta, Executive Director of SEA of India, said India usually imports around 1.75 lakh tonnes (lt) to 2 lt of sunflower oil per month.
Stating that the conflict between Russia and Ukraine has disturbed sunflower oil supply, he said around 1.52 lt of sunflower arrived in India in February. A similar quantity is likely to arrive in March as vessels that left before the war would arrive at Indian ports during this month.
There may be a decline in the shipment of sunflower oil in later months if war continues. “However, the shortfall of sunflower oil availability could be met through higher domestic availability of soyabean and mustard oils,” he said.
Import stats
The total sunflower oil import of India was 8.43 lt during the first four months of the oil year 2021-22 as against 7.70 lt in the corresponding period of 2020-21 (Oil year ranges from November to October). Of this, India imported 7.15 lt of sunflower oil from Ukraine and 1.21 lt from Russia during the first four months of the oil year 2021-22.
Argentina was another exporter of sunflower oil at 6,120 tonnes during the period. Ukraine and Russia exported 6.61 lt and 82,673 tonnes, respectively, of sunflower oil during the first four months of the oil year 2020-21.
The average CIF import price of crude sunflower oil stood at $1,506 a tonne during February as against $1,475 a tonne in January. The total sunflower oil import was at 1.89 mt during the oil year 2020-21 as against 2.51 mt in 2019-20.
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