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India has halted sunflower oil purchases after shipments from Ukraine and Russia were disrupted by the invasion, with about $570 million of cargoes stranded. Dealers said there is no clarity on when loadings will resume, pushing Indian buyers to replace sunoil with other vegetable oils.
Losing a major importer removes demand for sunflower oil and shifts Indian demand toward palm and soybean oil, supporting those vegoil prices.
reuters.comRajendra JadhavFeb 25, 2022After 110 past bullish geopolitics events, Soybean Oil moved a median +1.8% over 5 sessions (65% higher; middle half -0.7% to +3.6%), and -0.4% over 20.
After 62 past bullish geopolitics events, Palm Oil moved a median +2.5% over 5 sessions (74% higher; middle half -0.1% to +5.8%), and +4.0% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
India stopped buying sunoil and is substituting other vegoils, shifting demand to palm and soyoil.
