Domestic availability of soyabean, mustard oils to help meet sunflower oil shortage: SEA

The Solvent Extractors’ Affiliation (SEA) of India sense that the shortfall of the sunflower oil availability thanks to the war between Russia and Ukraine – two main producers of sunflower – could be achieved by the bigger domestic availability of soyabean and mustard oil.

In the month-to-month update on the vegetable oil imports for February, BV Mehta, Government Director of SEA of India, explained India typically imports all around 1.75 lakh tonnes (lt) to 2 lt of sunflower oil per thirty day period.

Stating that the conflict involving Russia and Ukraine has disturbed sunflower oil offer, he reported all over 1.52 lt of sunflower arrived in India in February. A identical amount is probably to get there in March as vessels that still left before the war would get there at Indian ports all through this thirty day period.

There may perhaps be a decrease in the cargo of sunflower oil in later on months if war carries on. “However, the shortfall of sunflower oil availability could be fulfilled via increased domestic availability of soyabean and mustard oils,” he mentioned.

Import stats

The overall sunflower oil import of India was 8.43 lt during the initial four months of the oil yr 2021-22 as towards 7.70 lt in the corresponding period of time 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 for the duration of the 1st 4 months of the oil 12 months 2021-22.

Argentina was a different exporter of sunflower oil at 6,120 tonnes during the period of time. Ukraine and Russia exported 6.61 lt and 82,673 tonnes, respectively, of sunflower oil throughout the very first four months of the oil yr 2020-21.

The average CIF import cost of crude sunflower oil stood at $1,506 a tonne in the course of February as versus $1,475 a tonne in January. The full sunflower oil import was at 1.89 mt in the course of the oil 12 months 2020-21 as against 2.51 mt in 2019-20.

Published on

March 14, 2022