India Turns to Rival Oils as Black Sea Disruptions Bite
India's top sunflower oil buyer is scrambling to secure alternative vegetable oils due to disruptions in imports from the Black Sea region. Shipments from Russia and Ukraine, which account for most of India's sunflower oil imports, are facing delays of up to 60 days, according to traders.
The country is turning to South American suppliers and rival oils like palm and soy to plug the import gaps. MK Agrotech Pvt. Ltd., a vegetable oil importer and distributor in Mysore, was forced to source half its sunflower supply from Argentina as violence in the Black Sea region intensified in the past month.
The disruptions are expected to tighten a global vegetable oil market already facing supply risks from a strong El Niño and higher biofuel demand. India's local sunflower oil price index has risen 6% this month, widening its premium over palm and soy.