New Delhi, Aug. 14 -- Multi Commodity Exchange of India (MCX) has introduced futures contracts on crude sunflower oil, providing importers, refiners, processors and traders with an exchange-traded mechanism to manage price risks in a segment where India meets most of its requirement through imports.

India's annual crude sunflower oil consumption is estimated at around 3 million tonnes, of which nearly 2.8 million tonnes are met through imports, according to a press release issued by MCX on Friday. Sunflower oil accounts for approximately 9 per cent of the country's edible oil consumption.

The high dependence on overseas supplies makes the segment particularly sensitive to movements in international prices and global supply conditions. ...