India slashes sunflower oil import duty amid rising prices and Russia ties

Ahead of the festival season, New Delhi trimmed customs duties on major edible oils, cutting palm and soybean rates by 5.5% and reducing sunflower oil duties by almost 11% for both crude and refined forms. The adjustment follows an 18.4% rise in the landed price of crude sunflower oil in August, the steepest increase among the three oils. Sunflower oil, India’s third-largest imported edible oil, is sourced chiefly from Russia and Ukraine, and the duty cut dovetails with a broader strategic trade relationship with Russia, which generated $1.17 billion in exports to India in the first seven months of 2026.

Russian President Vladimir Putin and External Affairs Minister S Jaishankar discussed expanding fertilizer supplies and joint ventures during recent talks in Moscow, while India negotiates a free-trade pact with the Eurasian Economic Union. Analysts view the policy as New Delhi’s effort to balance domestic price stability with geopolitical pressure from the United States and Western allies.