Duty-free sunflower oil imports from Black Sea set to drop this year

India is likely to import 1.5 million tonnes of duty-free sunflower oil during the current fiscal year to March 31, trade and government sources said, half a million tonnes less than the quota allocated by the government.

India, the world's biggest vegetable oil importer, buys sunflower oil from the Black Sea region, which accounts for 60% of the world's sunflower oil output and 76% of exports.

India has already imported 1.3 million tonnes of duty-free sunflower oil so far in the 2022-23 fiscal year, and another 200,000 tonnes are expected by March 31, the sources said.

The lower imports reflect traders' growing concerns