News Capsule: Russian strikes on Ukraine push up sunflower oil prices in India, import costs rise
20-Jan-2026 05:12 PM
News Capsule: Russian strikes on Ukraine push up sunflower oil prices in India, import costs rise
★ Following targeted attacks by Russia on Ukraine’s vegetable oil sector, global supply has tightened, with the impact clearly visible in India’s market. A sharp rise in international prices has made sunflower oil imports more expensive for India.
★ At the beginning of January 2026, sunflower oil CIF India prices increased to around $1,325 per tonne, the highest level since February 2023. Meanwhile, FOB prices at six major European ports climbed to about $1,409 per tonne, the highest since August 2022.
★ Higher import costs have increased pressure on domestic edible oil prices. Although India has raised purchases from Russia and Argentina in place of Ukraine, relief has been limited due to elevated global prices.
★ Market participants say that if conditions in the Black Sea region do not improve soon, sunflower oil prices in India are likely to remain firm in the coming weeks.