India Petroleum Oils HS2710 Import Data 2025 February Overview

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

India's February 2025 import of Petroleum oils (HS Code 2710) is dominated by Singapore, which accounts for 30.56% of the value and 47.71% of the weight, signaling bulk, lower-unit-value imports. The market shows a clear split between bulk suppliers like Singapore and UAE and high-value suppliers like Russia and Saudi Arabia, reflecting diverse product demand. Importers face rising costs due to new 20% Basic Customs Duty and 10% Social Welfare Surcharge, requiring supply chain optimization. This analysis is based on cleanly processed Customs data from the yTrade database for February 2025.

India Petroleum Oils (HS 2710) 2025 February 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 such as lubricants, fuel blending, and chemical manufacturing, driving consistent global demand due to their versatility and energy applications. India’s refining capacity and industrial growth further amplify its reliance on these imports.

Current Context and Strategic Position

In February 2025, India increased tariffs on HS Code 2710 imports to 20% Basic Customs Duty (BCD) plus a 10% Social Welfare Surcharge (SWS), up from 7.5% BCD, as part of its Union Budget amendments [Union Budget]. This shift aligns with India’s broader strategy to balance trade deficits and protect domestic refining sectors. Meanwhile, the U.S. imposed 25% secondary tariffs on Indian exports of these goods in August 2025 [International Trade Insights], complicating bilateral trade dynamics. Given India’s reliance on petroleum oils imports under HS Code 2710, market participants must monitor policy shifts and tariff adjustments closely in 2025.

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

Key Observations

India's imports of Petroleum oils under HS Code 2710 in February 2025 amounted to 967.10 million USD with a volume of 350.66 million kg, indicating a significant shift in trade dynamics for the month.

Price and Volume Dynamics

The month-over-month comparison shows a sharp decline in import value from 1.18 billion USD in January to 967.10 million USD in February, representing an approximate 18% decrease. This drop aligns with typical industry stock cycle adjustments, where importers often reduce purchases ahead of anticipated policy changes to manage inventory costs and avoid tariff impacts. The volume data for February stands at 350.66 million kg, but without prior month figures, the focus remains on the value trend, which reflects cautious import behavior driven by market anticipation.

External Context and Outlook

The observed decline in February 2025 imports is directly attributable to India's implementation of a higher tariff structure, effective from February 2, 2025, which increased the basic customs duty to 20% plus a 10% social welfare surcharge on HS Code 2710 items [India Budget]. This policy shift likely prompted importers to curb volumes to mitigate cost escalations. Looking ahead, imports may remain subdued in the near term due to these elevated duties, though underlying demand for petroleum oils in India's energy and industrial sectors could gradually stabilize trade flows despite the higher cost environment.

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

Product Specialization and Concentration

According to yTrade data, the India Petroleum oils HS Code 2710 Import for 2025 February is heavily concentrated in sub-code 27101971, which holds nearly half of the value and weight shares. This sub-code refers to petroleum oils that are not light oils and preparations, with a unit price of 2.85 USD per kilogram, indicating a standardized bulk product. An anomaly is present in sub-code 27101949, which has no recorded unit price and is isolated from the main analysis due to incomplete data.

Value-Chain Structure and Grade Analysis

The remaining sub-codes can be grouped into two categories: light oils and not light oils. Light oils, such as 27101229 and 27101221, have lower unit prices around 2.04 to 2.62 USD per kilogram, suggesting they are more refined but still traded as fungible commodities. Not light oils, including 27101990 and others, show a range of unit prices from 1.33 to 7.79 USD per kilogram, indicating variations in grade or processing, but the overall structure points to a market for bulk, index-linked goods rather than highly differentiated products.

Strategic Implication and Pricing Power

For importers, the dominance of bulk petroleum oils under HS Code 2710 means limited pricing power, with costs tied to global commodity markets. The tariff increases implemented in February 2025, including a 20% basic customs duty and 10% surcharge [indiabudget.gov.in], will elevate import expenses, urging players to focus on cost-efficient sourcing and logistics to maintain competitiveness in the India Petroleum oils market. (indiabudget.gov.in)

Check Detailed HS 2710 Breakdown

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

Geographic Concentration and Dominant Role

India's February 2025 import of Petroleum oils under HS Code 2710 is dominated by Singapore, which leads in both value and weight shares. Singapore's value ratio of 30.56% is lower than its weight ratio of 47.71%, indicating that imports from there are bulk, lower-unit-value commodities, likely crude or standard refined oils priced around 1.77 USD per kg.

Partner Countries Clusters and Underlying Causes

The top suppliers form two clear clusters. First, bulk suppliers like Singapore, UAE, and South Korea have high weight and value shares due to their roles as major oil trading hubs with efficient logistics to India. Second, high-value suppliers like Russia, Saudi Arabia, and Oman show much higher value ratios relative to weight, suggesting imports of refined or specialty petroleum products, possibly driven by specific trade agreements or product demand.

Forward Strategy and Supply Chain Implications

For bulk imports, focus on securing stable supply from major hubs like Singapore and UAE. The increased import duties of 20% Basic Customs Duty plus 10% Social Welfare Surcharge effective from February 2025 [Union Budget] mean higher costs, so importers should optimize logistics and consider diversifying sources to mitigate price risks (Union Budget).

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

Get Complete Partner Countries Profile

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

Strategic Supply Chain Overview

The India Petroleum oils Import market under HS Code 2710 for 2025 February is a bulk commodity trade. Price is driven by global crude oil indices and geopolitical supply risks. Supply chain implications focus on securing stable, cost-efficient logistics from major hubs like Singapore and UAE. The market's high buyer concentration adds vulnerability to demand shifts.

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

• Use HS Code 2710 sub-code data to track unit price shifts. This helps anticipate cost changes from global index movements.
• Analyze dominant buyer purchase cycles to align inventory with their demand. This prevents overstock and ensures contract fulfillment.
• Diversify suppliers using geographic trade data. This reduces reliance on any single source and mitigates supply disruption risks.
• Monitor policy updates like the 2025 February duty changes. This allows timely cost adjustments to maintain competitiveness.
• Leverage buyer cluster profiles to target high-frequency, smaller buyers. This builds a more resilient customer base beyond bulk buyers.

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 February?

The 18% month-over-month import value decline to $967.10 million reflects importers reducing purchases ahead of India's February 2025 tariff hike (20% basic customs duty + 10% surcharge), indicating cautious inventory management.

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

Singapore dominates with 30.56% value share, followed by UAE and South Korea as bulk suppliers, while Russia and Saudi Arabia supply higher-value refined products.

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

Prices vary by product grade: bulk "not light oils" (e.g., sub-code 27101971 at $2.85/kg) are cheaper than light oils (e.g., 27101229 at $2.04–$2.62/kg), with specialty imports reaching $7.79/kg.

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

Prioritize contracts with dominant bulk buyers (84.12% market share) while diversifying to smaller clusters, and optimize logistics to offset higher post-tariff costs from key hubs like Singapore.

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

Suppliers from Singapore/UAE benefit from stable bulk demand, while high-value exporters (Russia/Saudi Arabia) can target niche refiners, though all face India’s cost-sensitive market post-tariff.

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

Imports serve as bulk commodities for energy and industrial sectors, with light oils likely for refining and heavier grades for direct consumption or processing.