An expert talked about the situation with sunflower oil supplies to India.

Indian traders are concerned about the developments in the Black Sea region after the suspension of the “grain deal,” but local importers continue to purchase sunflower oil from Ukraine, as well as from Bulgaria, Romania, Russia, and Argentina. Sandeep Badjoria, the CEO of Sunvin Group, stated this according to “APK-Inform.”

“As for the prices, sunflower oil was previously traded at $825 per tonne on a C&F basis in Indian ports. By July 26, the price reached $1060 on a CIF basis. Over the last two weeks, the price has increased due to the developments in the Black Sea region. However, soybean oil is still trading at around $1120-1125, sunflower oil at an average of $1060-1065, and crude palm oil at $970. Overall, we can say that the prices of sunflower oil are attractive and beneficial for Indian importers,” he noted.

Badjoria also mentioned that the further volume of sunflower oil purchases by India in August-September of this year will depend on the global market conditions and the situation in Ukraine.

It is worth noting that this season, India’s share in the structure of Ukrainian sunflower oil imports has decreased to 26% from 80% in the previous agricultural year.