India’s sunflower oil imports fell sharply in February as elevated global prices and tighter supply conditions prompted refiners to scale back purchases and shift toward more competitively priced alternatives.
Trade estimates indicate that sunflower oil shipments into the country nearly halved compared to the previous month, marking one of the steepest monthly declines in recent quarters. The drop comes amid firm export prices from key Black Sea suppliers and increased freight and insurance costs, which have made sunflower oil less attractive relative to palm and soybean oil.
Industry executives said refiners opted to defer fresh buying as international quotations climbed, narrowing the price advantage sunflower oil typically enjoys in the domestic edible oils basket. Some processors turned to crude palm oil imports to maintain refining margins, while others relied on existing inventories to meet near-term demand.
India, the world’s largest importer of edible oils, depends heavily on overseas supplies to bridge the gap between domestic production and consumption. Any sharp movement in global prices quickly reflects in import volumes and retail rates.
Market participants noted that if sunflower oil prices remain elevated, import demand could stay subdued in the coming months. However, a correction in Black Sea supplies or easing freight rates may revive buying interest ahead of the peak summer consumption season.
Retail prices in several wholesale markets have remained firm, though analysts expect limited upside pressure if alternative edible oils remain adequately stocked.
