India Seeks Sunflower Oil Alternatives Amid Black Sea Disruptions
India's top sunflower oil buyer is struggling to secure supplies due to disruptions in the Black Sea region. Attacks by Ukraine on Russia-linked shipping infrastructure have delayed shipments, and prices are rising.
The country is turning to South American suppliers and rival oils like palm and soy to plug import gaps. MK Agrotech Pvt. Ltd., a vegetable oil importer and distributor, has sourced half its sunflower supply from Argentina due to the delays.
India's own oilseed planting has lagged due to weak monsoon rains, which is likely to hit output and increase reliance on imports.
The global vegetable oil market is facing supply constraints on several fronts, including hot and dry weather wrought by a 'super' El Niño and expanded biodiesel mandates in Indonesia and Malaysia.