Highlights

  • India is the top global edible oil importer
  • Only 30% of the total order for Feb, March has been delivered

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$570 million worth of edible oil stuck at ports as deliveries fail. 

350,000 tons of sunflower oil is stuck at ports meant to be enroute to India as Russia's invasion of Ukraine escalates and supply chain disruptions begin.

Edible oil worth $570 million is facing a limbo as the world's largest importer of vegetable oil as deliveries India are on a standstill.

Reuters reports India has contracts for about 510,000 tonnes of sunoil from Black Sea region for shipments in February and March, but only 130,000 tonnes have been loaded so far in February.

Global prices of vegetable oils, used for everything from preparing cookies to frying potato chips to making shampoo, have more than doubled in two years on supply constraints, with palm and soybean oils surging to all-time highs this week on supply jitters.

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