Russia – the world’s leading sunflower oil producer – is planning to increase exports to India in a bid to replace Ukrainian supplies that are being redirected to Europe, according to a Reuters report quoting the state agricultural export agency.
India was a major buyer of Russian energy, and the two countries had maintained close ties despite pressure from the USA on India to curb purchases, the 26 September report said.
The USA has imposed 50% tariffs on Indian goods, prompting India to seek alternative trading partners.
“Russia may strengthen its position in sunflower oil exports to the Indian market in the 2025/26 season. This could occur as Ukrainian suppliers shift their focus from Asia to Europe,” agricultural export agency Agroexport said in a statement.
Russia is set to export a record 5M tonnes of sunflower oil in 2025/26 and India is the biggest buyer, accounting for a third of total exports, according to Dmitry Rylko, the head of consultancy IKAR.
A record sunflower crop was forecast in Russia this year, as more farmers switched from wheat, the country’s largest agricultural export, which was viewed less profitable, the report said.
India imports soyabean oil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
“India is the world’s biggest importer of edible oils and is open to the idea of increasing sunflower oil imports from Russia,” an Indian government source told Reuters.
Mikhail Maltsev, head of Russia’s Oils and Fats Union, said vegetable oil production, including soyabean and rapeseed oil, would increase by 7.5% this year to more than 10.5M tonnes. He also forecast record vegetable oil exports this year.