Sunflower oil accounts for 10-12 per cent of India’s total domestic demand of 220-230 lakh tonnes of cooking oil.
Impact on import of sunflower oil
Conflict between Russia and Ukraine (Russia Ukraine conflict) has seen a bad effect on the supply of sunflower oil. Industry body SEA has said that traders are exploring options in other countries to stabilize retail prices and maintain domestic supply. It is feared that if the crisis escalates, sunflower oil (sunflower oil) effect on the supply can be seen. Although the organization stated that edible oils (edible oil) No increase in prices is expected. Because the supply of mustard will increase from next month and with the expectation of a better crop this year, the supply of oil will also be better and prices may remain under control. At the same time, the industry informed that after meeting the Union Minister on Friday itself, he has given suggestions to increase the supply of edible oil.
Impact on the supply of sunflower oil
BV Mehta, executive director of the Solvent Extractors Association (SEA), said the supply of sunflower oil has been disrupted due to the conflict between Russia and Ukraine. India imports 2.5 million tonnes of sunflower oil annually, of which 70 per cent comes from Ukraine, 20 per cent from Russia and 10 per cent from Argentina. He said that around 2 lakh tonnes of sunflower oil is imported on a monthly basis. Mehta said that there is an upward pressure in the prices of palm oil and soybean oil in the international markets. He said that since our dependence on edible oil imports is 65 per cent, we are exploring all possibilities of getting edible oil from other countries to maintain our domestic supply chain and stabilize local retail prices. Mehta said Union Minister Piyush Goyal held a meeting with the edible oil industry on Friday evening to take stock of the situation and explore ways to boost domestic availability. He said that to boost domestic supply, we gave many suggestions to the minister.
Will not affect retail prices
Adani Wilmar CEO and MD Angshu Malik said the situation would improve in the next 15 days and ruled out any increase in retail prices. He said that the arrival of mustard crop would start in a few days. This will improve our domestic availability. Malik said that sunflower oil accounts for 10-12 per cent of India’s total domestic demand of 220-230 lakh tonnes of cooking oil. He said that 65-70 percent of sunflower oil is consumed in the southern states. We need to promote the use of groundnut and rice brain oil in South India
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