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Ukraine crisis might push edible oil rates up; wheat exports could gain

Reports said Lebanon, which imports 60% wheat from Ukraine has started talks with India after the crisis

edible oil

(Photo: iSTOCK)

Sanjeeb MukherjeeSharleen D'Souza New Delhi/Mumbai
Brace for some serious spike in the already high domestic edible oil prices if the current crisis in Russia and Ukraine continues for long as both the countries together account for almost 90 per cent of the annual 2.5 million tonnes of sunflower oil imported into India.

Sunflower oil is the third largest edible oil imported into the country after palm and soybean oil.

India imports almost 60 per cent of its domestic edible demand of around 23 million tonnes every year as local oilseeds production is insufficient to feed its growing population.

Trade sources said a prolonged unrest and

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First Published: Feb 25 2022 | 6:34 PM IST

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