India Petroleum Oils HS2710 Import Data 2025 April Overview

India Petroleum Oils (HS 2710) 2025 April Import: Key Takeaways

India’s April 2025 Petroleum oils imports (HS Code 2710) reveal heavy reliance on Russia, supplying 28.5% of value at $1.76/kg, signaling bulk crude dominance. The market shows tight supplier concentration, with Russia and the UAE accounting for over 40% of volume, raising geopolitical risks amid India’s recent tariff hikes. This analysis, covering April 2025, is based on cleanly processed Customs data from the yTrade database.

India Petroleum Oils (HS 2710) 2025 April Import Background

What is HS Code 2710?

HS Code 2710 covers petroleum oils and oils obtained from bituminous minerals (other than crude), including preparations containing ≥70% petroleum oils. These products are critical inputs for industries like transportation, energy, and manufacturing, ensuring stable global demand due to their foundational role in fuel and lubricant production. India’s refining capacity and trade dynamics make this HS code strategically significant for both domestic consumption and export-oriented markets.

Current Context and Strategic Position

In 2025, India’s import policy for HS Code 2710 saw revisions under the Finance Bill, restructuring tariff items and adjusting duty rates to 20% Basic Customs Duty (BCD) plus 10% Social Welfare Surcharge (SWS) [Union Budget]. Concurrently, geopolitical tensions, such as the U.S. imposing 25% tariffs on select Indian exports, indirectly influence trade flows [International Trade Insights]. For India petroleum oils HS Code 2710 import 2025 April, vigilance is essential to navigate tariff shifts and leverage refining surpluses amid evolving trade policies.

India Petroleum Oils (HS 2710) 2025 April Import: Trend Summary

Key Observations

India's Petroleum oils HS Code 2710 Import for April 2025 reached 1.44 billion USD in value with a volume of 755.03 million kg, marking a significant monthly increase in dollar terms despite a drop in physical quantity.

Price and Volume Dynamics

The April figures show a 10.8% month-over-month rise in import value from March's 1.30 billion USD, while volume fell 20.7% from 952.13 million kg, indicating higher per-unit costs likely driven by anticipatory stockpiling ahead of India's tariff restructuring. This pattern aligns with typical industry stock cycles, where importers often front-load purchases before duty hikes to mitigate costs, reflecting strategic inventory management rather than underlying demand shifts.

External Context and Outlook

The volatility in April's imports is directly tied to India's policy revisions under the Finance Bill 2025, which introduced new tariff items and increased duties effective May 1, 2025 [Union Budget]. Additionally, broader trade tensions, such as the U.S. imposing 25% tariffs on Indian exports [International Trade Insights], may indirectly influence import strategies by affecting refining margins and global oil trade flows, suggesting continued adjustment in coming months.

India Petroleum Oils (HS 2710) 2025 April Import: HS Code Breakdown

Product Specialization and Concentration

In April 2025, India's imports of Petroleum oils under HS Code 2710 were heavily concentrated on non-light oil grades, with the sub-code for not light oils and preparations dominating the market. According to yTrade data, this sub-code accounted for over 41% of the total import value, with a unit price of 1.93 USD per kilogram, which is relatively low compared to other products in the group. An extreme price anomaly was observed in a light oils sub-code, with a unit price exceeding 2200 USD per kilogram, which has been isolated from the main analysis due to its outlier nature.

Value-Chain Structure and Grade Analysis

The remaining non-anomalous sub-codes can be grouped into two main categories based on oil grade: light oils and not light oils. Light oils, with unit prices around 1.4 to 1.5 USD per kilogram, and not light oils, with prices ranging from 0.86 to 11.85 USD per kilogram, indicate a market structure where products are differentiated by quality and refinement stage. The wide range in unit prices suggests that while some segments act like fungible bulk commodities, others are more specialized grades, reflecting variations in value-add and processing.

Strategic Implication and Pricing Power

For India Petroleum oils HS Code 2710 Import in 2025 April, the low average unit prices across most sub-codes imply limited pricing power for importers, positioning this trade as cost-sensitive and commodity-driven. Strategic focus should be on securing stable supplies for bulk grades while exploring niche opportunities in higher-value segments. External factors, such as upcoming tariff changes noted in policy updates [Union Budget], could influence future cost structures, but the current analysis shows a market reliant on volume over value.

Check Detailed HS 2710 Breakdown

India Petroleum Oils (HS 2710) 2025 April Import: Market Concentration

Geographic Concentration and Dominant Role

In April 2025, India's import of Petroleum oils under HS Code 2710 shows strong geographic concentration, with Russia as the dominant supplier. Russia accounts for 28.49% of the import value and 31.04% of the weight, indicating a slightly lower unit price around $1.76 per kg, which suggests imports are primarily crude oil rather than refined products. This pattern points to Russia's role as a key source for bulk, lower-grade petroleum.

Partner Countries Clusters and Underlying Causes

The top suppliers form two main clusters: first, Russia and the United Arab Emirates, which together contribute over 40% of the weight with lower unit prices, likely due to their vast crude oil production and proximity. Second, South Korea and Singapore, with higher unit prices near $1.96 per kg and $2.85 per kg respectively, probably supply refined products, leveraging their advanced refining industries. A third group includes countries like the United States and Qatar, offering smaller volumes with mixed pricing, reflecting diverse product types or niche markets.

Forward Strategy and Supply Chain Implications

For importers, the reliance on a few major suppliers like Russia increases vulnerability to geopolitical shifts or price volatility. With India's recent tariff changes under the Finance Bill 2025, which increased duties on certain petroleum products [Union Budget], companies should diversify sources to include more refined product suppliers like South Korea to mitigate cost risks and align with India's refining surplus.

Table: India Petroleum Oils (HS 2710) Top Partner Countries (Source: yTrade)

Get Complete Partner Countries Profile

India Petroleum Oils (HS 2710) 2025 April Import: Action Plan for Petroleum Oils Market Expansion

Strategic Supply Chain Overview

India Petroleum oils Import 2025 April under HS Code 2710 is a commodity-driven market. Price is driven by oil grade differentiation and geopolitical supply risks. Light oils trade near $1.4-$1.5/kg, while not light oils range widely from $0.86-$11.85/kg. Russia dominates supply with 28.5% share and lower crude prices, creating reliance on bulk volumes. High-value, frequent buyers drive 80% of trade, increasing vulnerability to cost shifts like India’s new 20% duty plus 10% surcharge. The supply chain implication is a need for secure bulk sourcing paired with selective value-grade diversification to offset margin pressure.

Action Plan: Data-Driven Steps for Petroleum oils Market Execution

• Diversify supplier sources beyond Russia using trade data. Target refined product exporters like South Korea to reduce geopolitical risk and balance grade mix.
• Analyze buyer frequency clusters to customize contract terms. Lock in high-value bulk buyers with long-term agreements to ensure stable revenue despite duty hikes.
• Monitor HS Code 2710 sub-code price bands weekly. Shift import volumes toward higher-margin refined products when market gaps appear, maximizing per-unit value.
• Track policy updates like India’s Union Budget changes in real-time. Adjust sourcing costs and pricing models proactively to avoid duty-related profit erosion.

Take Action Now —— Explore India Petroleum oils Import Data

Frequently Asked Questions

Q1. What is driving the recent changes in India Petroleum oils Import 2025 April?

The 10.8% month-over-month rise in import value despite a 20.7% drop in volume reflects anticipatory stockpiling ahead of India's May 2025 tariff restructuring, indicating strategic inventory adjustments rather than demand shifts.

Q2. Who are the main partner countries in this India Petroleum oils Import 2025 April?

Russia dominates with 28.49% of import value, followed by the UAE and South Korea, forming two clusters: bulk crude suppliers and refined product exporters.

Q3. Why does the unit price differ across India Petroleum oils Import 2025 April partner countries?

Price differences stem from product grades—Russia and the UAE supply cheaper crude (avg. $1.76/kg), while South Korea and Singapore export refined oils (up to $2.85/kg).

Q4. What should importers in India focus on when buying Petroleum oils?

Prioritize securing bulk supplies from dominant high-value buyers while diversifying into refined product niches to mitigate risks from geopolitical or tariff volatility.

Q5. What does this India Petroleum oils import pattern mean for overseas suppliers?

Suppliers like Russia benefit from bulk demand but face pressure to maintain competitive pricing, while refined-product exporters (e.g., South Korea) gain niche opportunities.

Q6. How is Petroleum oils typically used in this trade flow?

Imports are primarily cost-sensitive bulk crude for refining or industrial use, with smaller volumes of higher-grade refined oils for specialized applications.