The ongoing conflict between Russia and Ukraine may compel India to look for alternative countries for edible oil imports, according to Solvent Extractors' Association, SEA, executive director BV Mehta.
India imports over 2.5 million tonnes of sunflower oil every year, of which 70 percent comes from Ukraine, 20 percent from Russia, and the remaining 10 percent from Argentina.
According to a Press Trust of India report, India faces a shortage in sunflower oil imports as the Russia-Ukraine war continues.
As the domestic market may face a shortage of supply in sunflower oil in the coming weeks, Mehta suggested India should start exploring all other countries to maintain a healthy supply of edible oils as this will help stabilize the retail prices.
“We can increase our import of palm oil from Indonesia, which is diverting a large quantity of palm oil for fuel. We can also source canola oil from Dubai. Rice bran oil and olive oil can also be imported,” Mehta told PTI.
