India Petroleum Oils HS2710 Import Data 2025 June Overview

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

India’s petroleum oils (HS Code 2710) imports in June 2025 reveal a heavy reliance on Russia for bulk crude, accounting for 64% of volume but just 33% of value, signaling lower-grade feedstock dominance. Buyers must diversify with Gulf and East Asian suppliers for premium grades to mitigate single-source risk. This analysis, covering June 2025, is based on cleanly processed Customs data from the yTrade database.

India Petroleum Oils (HS 2710) 2025 June 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 for lubricants, fuel blending, and industrial applications, driving stable global demand due to their role in energy and manufacturing sectors. India’s refining capacity and consumption patterns make this a strategically significant import category.

Current Context and Strategic Position

In June 2025, India’s import landscape for HS Code 2710 faces dual pressures: domestically, tariff restructuring raised basic customs duties to 20% plus a 10% social welfare surcharge effective May 1, 2025 [Union Budget], while the U.S. imposed additional 25% tariffs on Indian petroleum oil imports in August 2025 [International Trade Insights]. India’s reliance on refined petroleum exports (via surplus refining capacity) and geopolitical trade tensions underscore the need for vigilance in India’s petroleum oils import dynamics this period.

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

Key Observations

In June 2025, India's imports of Petroleum oils under HS Code 2710 reached USD 1.26 billion in value and 615.73 million kg in volume, showing a modest increase from the previous month.

Price and Volume Dynamics

The sequential rise from May to June—with value up from USD 1.21 billion and volume from 602.48 million kg—reflects typical mid-year demand stability in the petroleum sector, often driven by steady industrial and transportation needs. This gradual uptick aligns with routine inventory adjustments rather than sharp market shifts, indicating resilient import flows amid normal operational cycles.

External Context and Outlook

The observed stability is partly influenced by India's tariff policy changes; effective May 1, 2025, the basic customs duty on HS Code 2710 was raised to 20% plus a 10% social welfare surcharge [Union Budget], which may have prompted importers to maintain consistent volumes ahead of potential cost increases. Looking forward, the additional 25% U.S. tariffs set for August 2025 (International Trade Insights) could introduce volatility, requiring close monitoring of trade dynamics for India Petroleum oils HS Code 2710 Import 2025 June.

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

Product Specialization and Concentration

In June 2025, India's import of petroleum oils under HS Code 2710 was heavily concentrated in sub-code 27101971, which accounted for over 40% of the total import value. According to yTrade data, this product is described as non-light petroleum oil with a unit price of 1.92 USD per kilogram. An anomaly in sub-code 27101942, with no unit price data, is isolated from the main analysis.

Value-Chain Structure and Grade Analysis

The remaining imports are categorized into light and heavy petroleum oils. Light oils, such as sub-codes 27101229 and 27101221, show unit prices ranging from 1.26 to 8.33 USD per kilogram, indicating different quality grades. Heavy oils, including others like 27101959 and 27101990, have prices from 0.81 to 16.11 USD per kilogram, suggesting a mix of fungible bulk commodities and differentiated refined products.

Strategic Implication and Pricing Power

Market players have limited pricing power for standard grades but can target premium segments for better margins. Recent Indian tariff increases on petroleum imports, as reported by [Union Budget], may raise costs and encourage a shift towards higher-value products to maintain profitability.

Check Detailed HS 2710 Breakdown

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

Geographic Concentration and Dominant Role

India's petroleum oils (HS Code 2710) import profile for June 2025 shows extreme reliance on Russia, which supplied 64% of the total weight. However, Russia's value share (33%) is half its weight share, indicating a lower unit price of roughly $2.02/kg and confirming its role as the primary source for lower-grade crude or feedstocks.

Partner Countries Clusters and Underlying Causes

The import partners form three clear groups. The first is Russia, a volume-driven supplier for bulk crude. The second cluster includes major refining hubs like South Korea and Singapore, which ship higher-value products at over $1.89/kg and $1.83/kg, respectively. The third group consists of Gulf producers like the UAE, Qatar, and Saudi Arabia, which provide specialized cargoes; Saudi Arabia's minimal quantity but high value points to premium or chemically treated grades.

Forward Strategy and Supply Chain Implications

Buyers should lock in long-term contracts with Russian suppliers for cost-effective bulk crude but diversify with Gulf and East Asian partners for specific product grades to mitigate single-source risk. The recent U.S. tariff hike on Indian goods is an export-side issue and does not directly impact India's import strategy for this product, allowing sourcing plans to proceed without adjustment.

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

Get Complete Partner Countries Profile

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

Strategic Supply Chain Overview

India Petroleum oils Import 2025 June under HS Code 2710 shows a commodity market driven by product grade and geopolitical sourcing. Price is set by quality tiers—light oils (up to 8.33 USD/kg) and heavy oils (as low as 0.81 USD/kg)—and by supplier origin, with Russia providing bulk volume at lower cost. Supply chain implications focus on secure, cost-effective crude processing. India depends on Russian feedstock for scale but requires diversification for grade-specific needs and tariff resilience.

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

• Lock long-term contracts with Russian suppliers for bulk crude. This ensures stable volume and cost control for base feedstock.
• Target high-value buyers with premium light oil grades. Use trade data to identify refiners needing specialized products for better margins.
• Diversify partners to include Gulf and East Asian hubs. Source from UAE or Singapore to access specific grades and reduce single-source risk.
• Monitor buyer frequency patterns to align shipments with demand cycles. This prevents inventory overstock and optimizes logistics costs.
• Track tariff changes and adjust sourcing mix promptly. This avoids cost spikes and maintains supply chain flexibility.

Risk Mitigation and Forward Strategy

External risks include tariff hikes and geopolitical disruptions. Mitigate by balancing volume-driven Russian imports with value-driven alternatives. Use HS Code 2710 sub-category data to pinpoint exact product needs. This approach secures supply while maximizing margin opportunities in a volatile market.

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 June?

India's petroleum oil imports rose modestly in June 2025, driven by steady industrial demand and preemptive buying ahead of tariff hikes. The 20% customs duty increase in May 2025 encouraged importers to maintain consistent volumes to mitigate cost pressures.

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

Russia dominated with 64% of import volume but only 33% of value, followed by South Korea and Singapore supplying higher-value refined products. Gulf producers like the UAE and Saudi Arabia contributed specialized, premium-grade cargoes.

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

Price variations reflect product grades: Russia supplied lower-cost bulk crude ($2.02/kg), while South Korea and Singapore shipped refined oils ($1.89/kg+). Saudi Arabia’s minimal but high-value shipments suggest premium or chemically treated grades.

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

Importers should prioritize long-term contracts with Russian suppliers for cost-effective bulk crude while diversifying with Gulf and East Asian partners for specialized grades. Maintaining relationships with dominant high-volume buyers is critical for stability.

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

Suppliers like Russia have a reliable bulk-demand niche, while Gulf and East Asian exporters can target premium segments. The market’s heavy buyer concentration (87% value from one segment) favors large-scale, consistent shipments.

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

Petroleum oils are primarily imported as bulk crude for refining or as differentiated products (e.g., light/heavy oils) for industrial, transportation, and energy needs, with niche grades for specialized applications.