Russia Surpasses Ukraine in Sunflower Oil Exports to India
Russia Emerges as Top Supplier of Sunflower Oil to India
During the first eight months of the current marketing season, from November 2023 to June 2024, India imported approximately 2.46 million tonnes of crude sunflower oil. Russia has become the largest supplier, overtaking Ukraine. During this period, India imported about 1.18 million tonnes of sunflower oil from Russia alone. Previously, Ukraine was the leading supplier, but it has now slipped to third place, with Romania moving up to second.Romania and Argentina Follow Russia in Sunflower Oil Exports
- In addition to Russia, Romania and Argentina remain important suppliers of sunflower oil to India.
- From November 2023 to June 2024, India imported 603,000 tonnes of sunflower oil from Romania,
- 353,000 tonnes from Ukraine,
- 240,000 tonnes from Argentina.
Increasing Sunflower Oil Imports Indicate Growing Demand
The data shows that during the review period, India imported more than three times the amount of sunflower oil from Russia compared to Ukraine and almost twice as much as from Romania. Sunflower oil imports in India have seen a significant increase in recent months. According to association data,- imports were 129,000 tonnes in November 2023,
- 261,000 tonnes in December,
- 220,000 tonnes in January 2024,
- 297,000 tonnes in February,
- 446,000 tonnes in March.
Conclusion
In April 2024, imports fell to around 235,000 tonnes but then rose again to 411,000 tonnes in May and approximately 466,000 tonnes in June. At this pace, sunflower oil imports could surpass 3 million tonnes by the end of the 2023-24 marketing season, setting a new record.