India Petroleum Oils HS2710 Import Data 2025 July Overview

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

India’s July 2025 petroleum oils imports (HS Code 2710) reveal a high reliance on South Korea, supplying 25.72% of import value with premium refined products priced at 1.92 USD/kg, while Russia and the UAE dominate bulk crude shipments. Geopolitical risks loom with recent tariff hikes and EU restrictions, urging diversification for supply chain stability. This analysis, covering July 2025, is based on cleanly processed Customs data from the yTrade database.

India Petroleum Oils (HS 2710) 2025 July 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 refining, lubricants, and chemical manufacturing, driving stable global demand due to their foundational role in energy and industrial processes. India’s import of these oils under HS Code 2710 reflects its reliance on refined petroleum products to meet domestic energy and industrial needs.

Current Context and Strategic Position

In July 2025, India’s trade in petroleum oils (HS Code 2710) faces heightened scrutiny due to recent policy shifts. The U.S. imposed an additional 25% tariff on specified Indian goods, including petroleum products, raising total duties to 50% [International Trade Insights]. Meanwhile, the EU will ban imports of CN code 2710 products derived from Russian crude oil starting January 2026 [Trade Compliance Resource Hub]. India’s strategic position as a key importer of these oils underscores the need for market vigilance amid evolving trade barriers and global supply chain adjustments.

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

Key Observations

In July 2025, India's imports of Petroleum oils under HS Code 2710 reached 1.19 billion USD in value with a volume of 704.41 million kg, showing a mixed performance compared to previous months.

Price and Volume Dynamics

Month-over-month, the import value declined from June's 1.26 billion USD, while volume rose from 615.73 million kg, suggesting a softening in unit prices or shifts in product mix. This pattern reflects typical inventory management in the petroleum sector, where imports often adjust to domestic refining cycles and seasonal demand stability in summer months. The overall 2025 trend shows volatility, with a peak in April, indicating responsive import strategies amid market fluctuations.

External Context and Outlook

The July import dynamics were likely influenced by anticipatory moves ahead of policy changes, such as the U.S. imposition of an additional 25% tariff on specified Indian goods effective August 2025 [International Trade Insights], which may have driven stock adjustments. With EU restrictions on CN code 2710 imports from January 2026 (Trade Compliance Resource Hub), future India Petroleum oils HS Code 2710 Import flows could face further constraints, emphasizing need for strategic sourcing.

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

Product Specialization and Concentration

In July 2025, India's imports of petroleum oils under HS Code 2710 were heavily concentrated in a specific product grade. According to yTrade data, the sub-code for "Petroleum oils and oils from bituminous minerals, not containing biodiesel, not crude, not waste oils; preparations not elsewhere specified, containing by weight 70% or more of petroleum oils; not light oils and preparations" dominated with over 50% of the import value, at a unit price of 1.94 USD per kilogram. This period saw anomalies, such as a sub-code with a significantly higher unit price of 16.31 USD per kilogram, which is isolated from the main analysis due to its outlier nature.

Value-Chain Structure and Grade Analysis

The non-anomalous sub-codes fall into two clear categories based on grade: light oils and heavy or other oils. Light oils, like those specified as "light oils and preparations", represent a smaller share but have lower unit prices around 1.14 to 1.18 USD per kilogram. Heavy oils, including various "not light oils" descriptions, form the bulk with unit prices ranging from 1.19 to 3.07 USD per kilogram. This structure indicates a trade in fungible bulk commodities, where prices are likely tied to global oil indices rather than product differentiation.

Strategic Implication and Pricing Power

For market players in India Petroleum oils HS Code 2710 Import 2025 July, the commodity nature limits pricing power, making costs sensitive to international market fluctuations. [Union Budget] reports tariff changes effective from February 2025, which could increase import duties and affect overall cost structures. Importers should focus on securing stable supply chains for dominant grades to mitigate price volatility.

Check Detailed HS 2710 Breakdown

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

Geographic Concentration and Dominant Role

India's import of Petroleum oils under HS Code 2710 in July 2025 is heavily concentrated, with SOUTH KOREA as the key supplier, accounting for 25.72% of import value and 22.58% of weight. The higher value ratio compared to weight ratio suggests SOUTH KOREA provides higher-grade refined products, with an estimated unit price around 1.92 USD/kg, indicating a focus on quality imports for India Petroleum oils HS Code 2710 Import 2025 July.

Partner Countries Clusters and Underlying Causes

The top partners form three clusters: first, SOUTH KOREA and SINGAPORE, with value ratios exceeding weight ratios, pointing to refined oil shipments for industrial use. Second, RUSSIA and UNITED ARAB EMIRATES, where weight ratios dominate value ratios, implying bulk crude oil supplies due to geopolitical ties and proximity. Third, IRAQ, with a very low value ratio relative to high weight, likely represents cost-effective, low-quality oil imports for blending or energy needs.

Forward Strategy and Supply Chain Implications

For market players, diversifying sources is critical to mitigate risks from recent tariff hikes, such as the US imposing 50% duties on Indian goods [International Trade Insights], and upcoming EU restrictions on CN code 2710 imports (International Trade Insights). Prioritizing contracts with reliable partners like SOUTH KOREA can ensure stable, high-quality supply chains for India Petroleum oils.

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

Get Complete Partner Countries Profile

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

Strategic Supply Chain Overview

India Petroleum oils Import 2025 July under HS Code 2710 operates as a bulk commodity market. Price is driven by global oil indices and product grade quality. Heavy oils dominate import value. Geopolitical risks and new tariffs increase cost volatility. Supply chains rely heavily on key partners like South Korea for refined products. This creates vulnerability to external shocks. India's role is as a processing hub for bulk imports. Secure, diversified sourcing is critical for stability.

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

• Track real-time unit prices by HS sub-code. This helps anticipate cost shifts for bulk purchases under HS Code 2710.
• Prioritize contracts with frequent high-value buyers. They drive 82.89% of import value and ensure volume stability.
• Diversify suppliers beyond dominant partners like South Korea. Mitigate risks from geopolitical issues or tariff changes.
• Monitor regulatory updates on oil import duties. Adjust procurement strategies to avoid cost spikes from new policies.

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 July?

India's July 2025 petroleum oil imports saw a 5.6% drop in value but a 14.4% volume increase from June, reflecting softer unit prices or shifts in product mix. This volatility aligns with inventory adjustments ahead of U.S. tariff hikes and EU restrictions.

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

South Korea dominates with 25.72% of import value, followed by Singapore and Russia. South Korea and Singapore supply higher-grade refined oils, while Russia and UAE focus on bulk crude shipments.

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

Price gaps stem from product grade differences: heavy oils (1.19–3.07 USD/kg) form the bulk, while light oils (1.14–1.18 USD/kg) are cheaper. South Korea’s higher unit price (1.92 USD/kg) reflects premium refined products.

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

Importers must prioritize contracts with frequent high-value buyers (82.89% market share) and diversify sources to mitigate risks from geopolitical tariffs and supply chain disruptions.

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

Suppliers like South Korea benefit from stable high-value demand for premium grades, while bulk crude exporters (e.g., Russia) face reliance on India’s price-sensitive heavy oil segment.

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

Imports are fungible bulk commodities, likely used for refining, industrial energy, or blending, with prices tied to global oil indices rather than product differentiation.