India Petroleum Oils HS2710 Import Data 2025 March Overview

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

India’s HS Code 2710 petroleum oils imports in March 2025 reveal heavy reliance on bulk suppliers like the UAE and Russia, accounting for over 55% of import value but at lower unit prices, signaling a commodity-driven market. The supplier base splits into bulk crude providers, high-value refined product hubs like South Korea, and niche specialty suppliers, exposing supply chain risks. Buyer concentration remains high, amplifying vulnerability to price swings and geopolitical disruptions. This analysis, based on cleanly processed Customs data from the yTrade database, highlights India’s need to diversify sources and secure stable fuel access amid tightening trade conditions.

India Petroleum Oils (HS 2710) 2025 March 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 by weight. These products are critical inputs for industries like transportation, manufacturing, and energy, driving stable global demand due to their versatility and essential role in industrial processes. India’s reliance on imports under this code reflects its growing energy and refining needs.

Current Context and Strategic Position

In March 2025, India’s import policy for HS Code 2710 is undergoing significant changes, with a tariff restructuring effective from 1st May 2025 (preparatory impact starting 2nd February 2025). The Finance Bill, 2025, substitutes tariff item 2710 91 00 into three new items, while maintaining a 20% Basic Customs Duty (BCD) and 10% Social Welfare Surcharge (SWS) [Union Budget]. This aligns with India’s broader customs reforms, though restricted import conditions persist for certain petroleum solvents under this code. Strategically, India’s petroleum oils import under HS Code 2710 remains vital for energy security, requiring close monitoring of policy shifts and global trade dynamics in 2025.

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

Key Observations

In March 2025, India's imports of petroleum oils under HS Code 2710 reached 1.30 billion USD in value and 952.13 million kg in volume, marking a robust performance for the month.

Price and Volume Dynamics

Month-over-month, import value surged by approximately 34% from February's 967.10 million USD, while volume skyrocketed by over 170% from 350.66 million kg. This sharp increase aligns with typical seasonal stock replenishment cycles in the petroleum sector, where Q1 often sees heightened import activity to meet rising energy demand and refinery preparation periods. The volatility in volume, particularly the low February figures, may reflect inventory adjustments or logistical delays common in commodity trades.

External Context and Outlook

The observed volatility is likely amplified by impending policy changes, such as India's tariff restructuring for HS Code 2710, which introduced new duty rates effective from February 2025 ahead of a full implementation in May [Union Budget]. Additionally, global trade tensions, including U.S. tariffs on Indian exports [International Trade Insights], could indirectly influence import strategies by affecting supply chain dynamics and cost projections for India Petroleum oils HS Code 2710 Import 2025 March.

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

Product Specialization and Concentration

According to yTrade data, the import market for India Petroleum oils HS Code 2710 in March 2025 is dominated by non-light oils, specifically the sub-code 27101971, which holds a 44.45% value share. This product, described as petroleum oils not light and preparations, has a unit price of 1.15 USD per kilogram, indicating a focus on bulk, lower-value grades within the category. No extreme price anomalies are present in the top sub-codes, allowing for a clear analysis of the main market segments.

Value-Chain Structure and Grade Analysis

The remaining sub-codes can be grouped into two main categories: light oils and other non-light oils. Light oils, such as 27101229 and 27101221, have higher unit prices around 1.34 to 1.37 USD per kilogram but lower value shares, suggesting specialized, higher-grade imports. Other non-light oils, like 27101990 and 27101961, vary in unit price from 0.86 to 2.91 USD per kilogram, reflecting a range of quality grades. This structure points to a trade in fungible bulk commodities, where pricing is likely tied to global oil indices rather than product differentiation.

Strategic Implication and Pricing Power

The high concentration in non-light oils implies that suppliers of these grades may have significant pricing power in the India import market for March 2025. Buyers should focus on securing stable supplies for bulk grades while monitoring tariff changes, as recent policy updates [International Trade Insights] could impact costs and supply chains for petroleum oils. Strategic efforts should prioritize cost management and diversification to mitigate risks from concentrated import dependencies.

Check Detailed HS 2710 Breakdown

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

Geographic Concentration and Dominant Role

India's petroleum oils (HS Code 2710) imports in March 2025 were heavily concentrated, with the United Arab Emirates and Russia collectively supplying over 55% of the total import value. The UAE's high weight share (47.58%) but lower value share (26.25%) points to large volumes of crude or lower-grade product, averaging roughly $0.75/kg. Russia shows a similar pattern, with its value share (20.39%) trailing its weight share (19.29%), reinforcing its role as a bulk commodity supplier.

Partner Countries Clusters and Underlying Causes

The supplier base forms three clear groups. The first is bulk suppliers from the Middle East and Russia (UAE, Russia, Oman, Qatar, Saudi Arabia, Iraq), which provide high volumes at lower unit prices, aligning with regional crude production. The second cluster comprises major refining and trading hubs (South Korea, Singapore), which ship smaller volumes but higher-value refined products, as seen in South Korea's high value share (17.1%) against a modest weight share (11.97%). A third, smaller group (Malaysia, China Taiwan) likely supplies specialized petroleum products or lubricants in niche quantities.

Forward Strategy and Supply Chain Implications

This geographic spread shows a heavy reliance on a few bulk suppliers, creating vulnerability to price swings and geopolitical shifts. The recent U.S. guidance on imposing additional 25% tariffs on imports from India [International Trade Insights] does not directly affect India's inbound petroleum flows but underscores a tense trade environment. India's own customs tariff restructuring for petroleum oils, effective from May 1, 2025 [Union Budget], will add another layer of cost. Importers should prioritize diversifying sources and locking in contracts with refining hubs to secure stable access to higher-grade fuels and mitigate supply risks.

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

Get Complete Partner Countries Profile

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

Strategic Supply Chain Overview

The India Petroleum oils Import 2025 March market for HS Code 2710 is a bulk commodity trade dominated by non-light oils (44.45% value share) from concentrated bulk suppliers like the UAE and Russia. Price is primarily driven by global oil indices and grade quality, not product differentiation. Key risks include geopolitical volatility and potential cost impacts from India’s May 2025 customs tariff updates. The supply chain implication is high dependence on a few bulk suppliers, creating vulnerability in supply security and cost stability for refiners and large-volume buyers.

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

• Use HS Code sub-category data to track non-light oil (27101971) price trends monthly. This helps anticipate bulk purchase costs and manage budget forecasts for high-volume buyers.
• Analyze buyer frequency clusters to prioritize contract renewals with high-value, frequent purchasers (82.19% value share). This secures stable revenue and reduces customer churn risk.
• Monitor geopolitical developments and trade policies affecting key suppliers like Russia and the UAE. This enables swift sourcing shifts to avoid supply disruptions and cost spikes.
• Diversify import sources using trade data to identify alternative suppliers like South Korea for higher-grade products. This reduces over-reliance on bulk commodity hubs and mitigates supply chain risks.

Final Note: Success in the India Petroleum oils Import 2025 March market under HS Code 2710 depends on leveraging granular trade data for agile decision-making. Prioritize data-driven contract management and supply diversification to navigate price volatility and policy changes effectively.

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 March?

The surge in import value (34%) and volume (170%) from February to March 2025 reflects seasonal stock replenishment cycles and potential inventory adjustments. Policy changes, like India’s tariff restructuring for petroleum oils, further amplified volatility.

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

The UAE (26.25% value share) and Russia (20.39%) dominate, collectively supplying over 55% of imports. South Korea (17.1%) also plays a key role as a refining hub for higher-value products.

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

Price gaps stem from product specialization: bulk non-light oils (e.g., UAE’s $0.75/kg crude) trade cheaper, while refined light oils (e.g., South Korea’s higher-grade fuels) command premium prices.

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

Prioritize securing stable contracts with dominant bulk suppliers (UAE/Russia) while diversifying into refining hubs (South Korea/Singapore) for higher-grade fuels to mitigate supply risks.

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

Bulk suppliers (UAE/Russia) enjoy steady demand but face pricing pressure, while refining hubs (South Korea) can leverage niche demand for premium products.

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

Imports are primarily fungible bulk commodities for refining and energy needs, with smaller volumes of specialized grades likely used for lubricants or industrial applications.