India turns to palm oil as sunflower oil imports hit four-year low in September
USO•India’s sunflower oil imports fell 32% month over month to 108,837 metric tons in September, their lowest since April 2022, while palm oil imports rose 4.5% to 817,884 metric tons. War-related disruptions to Black Sea shipments and festive-season demand prompted refiners to buy more palm oil.
1. Import shifts
India’s sunflower oil imports fell 32% from August to 108,837 metric tons in September, the lowest level since April 2022, the Solvent Extractors’ Association of India said. Palm oil imports rose 4.5% to 817,884 metric tons, while soyoil imports declined 2.2% to 614,965 metric tons; total edible oil imports fell 1.76% to 1.54 million metric tons.
2. Supply disruptions
War-related damage to Black Sea port infrastructure has disrupted sunflower oil shipments from Russia and Ukraine, said a Mumbai-based dealer with a global trading firm. A Russian sunflower oil shipment bound for India was cancelled and other cargoes were delayed after attacks on Black Sea ports, industry and trade sources said last week.
3. Palm oil demand
Rising festive-season demand and tight sunflower oil supplies are prompting refiners to increase palm oil purchases as a substitute, the dealer said. India sources most of its palm oil from Indonesia and Malaysia.
