Russia-Ukraine war: All you need to know about impact on Indian kitchens, fuel prices

New Delhi, February 24: Following days of tension, Russian President Vladimir Putin on Thursday declared war on Ukraine in an address on television. The military action announced by him aims at "demilitarising" Ukraine. Amid all this turmoil, Russia-Ukraine crisis could become a major headache for Indian households. Here's is what is likely to get costlier in India now. Also Read | Air India's special flight lands at Delhi airport with over 240 passengers from Ukraine Impact on sunflower import Ukraine and Russia together account for 90 per cent of India’s sunflower oil imports. Sunflower oil is the second most imported edible oil. In 2021, India imported 1.89 million tonne of sunflower oil – 70% of this was from Ukraine alone. Russia accounted for 20% and 10% was from Argentina. Any global development will have an impact on its price in India. Gas prices will go up

India fulfills over half of its gas needs with imports of liquified natural gas (LNG) from Ukraine. A small part of India’s LNG consumption is also met through imports from Russia.

Pharma sector to bear brunt 

India’s main exports to Ukraine include pharmaceutical products. India is the third largest exporter of pharmaceutical products to Ukraine after Germany and France. LPG, kerosene subsidy will increase The rise in crude oil prices is expected to increase the subsidy on LPG and kerosene. Petrol, diesel prices will increase In 2021, India witnessed record highs in terms of fuel prices. If the Russia-Ukraine crisis continues, India could see an increase in petrol-diesel prices yet again. Oil consists of around 25 per cent of India’s total imports. India imports more than 80 per cent of its oil requirement. Wheat price may increase  Russia is the world's top wheat exporter while Ukraine is the fourth largest exporter of wheat. The two nations account for nearly a quarter of total global exports of wheat. Metal price to rise The price of palladium, a metal used in automotive exhaust systems and cellphones, has soared in recent weeks amid fears of sanctions being imposed on Russia. The country is the world’s largest exporter of palladium. Impact on coal prices As per reports, Russia supplies around 80 lakh tonne of all types of coal to India. The world’s third-largest coal importer, India, often struggles with coal shortages. Coal accounts for around 70 per cent of the nation’s electricity generation. Most of India’s coal-fired power plants have critically low levels of inventory amid growing electricity demand. The Russia-Ukraine crisis is all set to have more impact on coal prices and further shortages in India. Also read | Russia-Ukraine War Live Updates:5 Russian planes, a helicopter shot down -PTC News with inputs from agencies