India, the world’s largest buyer of sunflower oil, is shifting purchases toward palm, soybean, and Argentine sunflower oil as Russian attacks on Ukrainian port infrastructure disrupt Black Sea shipping, Bloomberg reported.
Traders said deliveries from Ukraine and Russia are running up to 60 days late, with prices continuing to rise. MK Agrotech, one of India’s largest importers, said it has moved half its sunflower oil purchases to Argentina and begun importing canola oil from Australia.
Ukraine and Russia together accounted for 63% of global sunflower oil exports last season, according to the US Department of Agriculture. About one million tonnes of India’s sunflower oil imports in the first half of the year came from the Black Sea region.
A weak monsoon season is threatening India’s domestic oilseed harvest, adding further pressure on supply. India is also increasing palm and soy oil purchases ahead of the holiday season.
Ukraine holds 33% of global sunflower oil exports. UkrAgroConsult forecast that Ukrainian sunflower output could reach 13.7 million tonnes in the 2026/2027 season.
