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Russia Ukraine conflict: From sunflower oil to fertilisers, these things that are exported from Ukraine are likely to affect Indian economy, here’s why

The conflict in Ukraine and Russia, according to experts, will have an impact on crop production, particularly wheat.  The price of palm oil and soy oil may be impacted as well.

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Russia Ukraine conflict: From sunflower oil to fertilisers, these things that are exported from Ukraine are likely to affect Indian economy, here's why

After Russian President Vladimir Putin declared a military operation, Russian troops and tanks surged into Ukraine, targeting military buildings and airbases, raising big risks for the Indian economy.

India is Ukraine’s largest export destination in the Asia Pacific and the fifth largest overall export destination. From Ukraine, the major export to India is sunflower oil, followed by inorganic chemicals, iron, and steel, plastics, chemicals.

Following Russia’s invasion of Ukraine, about 380,000 tonnes of sunflower oil exports from the Black Sea region to India remain stranded at ports. There is little certainty as to when the cargoes – worth USD 570 million at the current rate – from Ukraine and Russia would be loaded, prompting Indian purchasers to substitute soy oil and palm oil for sun oil in March and April shipments, according to traders.

The Black Sea region accounts for 60 percent of world sun oil output and 76 percent of exports, and India is the top global edible oil importer.

Fuel prices may increase which can also lead to an increase in food prices.

Oil marketing companies are expected to revise fuel prices soon as the Brent crude oil price soars to a new high.

The Russia-Ukraine crisis could impact the food prices in India. Experts believe that the sudden increase in crude oil prices will threaten the economy’s inflationary and fiscal problems. Furthermore, the spike in crude oil prices is projected to have an impact on the LPG and kerosene subsidies. The increase in crude oil prices will raise transportation costs, which will have an influence on food prices.

More fertilizer price spikes are expected as the Russia-Ukraine situation fuels fears of global shortages and raises concerns about rising food prices.

The conflict in Ukraine and Russia, according to experts, will have an impact on crop production, particularly wheat.  The price of palm oil and soy oil may be impacted as well.

India News

Bank holiday today: Are banks open or closed on June 29? Here’s what RBI calendar says

Banks in Himachal Pradesh and Mizoram will remain closed on June 29, 2026, due to regional holidays, while banking operations will continue normally in most other states.

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Bank Holidays

As June comes to an end, many customers are wondering whether banks across the country are open on June 29, 2026. According to the Reserve Bank of India’s (RBI) holiday calendar, bank operations will not be affected nationwide, but branches in some states will remain closed due to local holidays.

Banks closed in these states on June 29

Banks will remain shut in Himachal Pradesh on Monday, June 29, on account of Sant Guru Kabir Jayanti. In addition, bank branches in Mizoram will remain closed to observe Remna Ni, a regional public holiday.

However, bank branches in most other states and Union Territories are expected to function normally as June 29 is not a nationwide banking holiday.

Will online banking services remain available?

Even when physical branches remain closed, customers can continue using digital banking facilities. Services such as internet banking, mobile banking, UPI transactions, ATM withdrawals and cash deposits at ATMs will remain operational.

Customers planning to visit a bank branch are advised to check with their local branch beforehand, as holiday schedules may vary depending on the state and local observances.

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India News

Second cloudburst in a week triggers floods in Arunachal, travel advisories issued

A second cloudburst in less than a week has caused fresh flooding and landslides in Arunachal Pradesh, leading authorities to issue travel advisories in affected districts.

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Cloud burst in Arunanchal

A second cloudburst within a week has triggered widespread flooding and landslides in parts of Arunachal Pradesh, prompting district authorities to issue travel advisories and urge residents to avoid non-essential journeys.

Torrential monsoon rains accompanied by cloudbursts have severely affected the East Siang and Leparada districts, damaging road infrastructure and disrupting connectivity in several areas. According to local authorities, multiple key road links in East Siang district have either been blocked or washed away due to incessant rainfall.

Several road links damaged

The worst damage has been reported on the Pasighat-Runne-Takilalug Road, where sections of the route have been extensively affected. Landslides and overflowing streams have also rendered several other roads unsafe for vehicular movement. Authorities have deployed heavy machinery and emergency teams to clear debris and restore connectivity at the earliest.

Officials have advised people to undertake travel only if absolutely necessary and to remain alert, particularly in landslide-prone stretches. Residents have also been asked to closely follow official weather updates and district advisories.

The latest weather-related disruption comes days after flash floods and landslides caused extensive damage in Keyi Panyor district, where rescue and relief operations are still underway following heavy rainfall earlier this week.

Meteorological forecasts indicate the possibility of continued heavy rainfall across parts of Arunachal Pradesh, raising concerns over further flooding and landslides in vulnerable regions.

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Delhi likely to receive monsoon by July 4, says IMD

The India Meteorological Department has predicted that the southwest monsoon is likely to reach Delhi by July 4, offering relief from persistent heatwave conditions.

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Delhi Monsoon

Residents of Delhi may finally get respite from the prolonged spell of intense heat, with the India Meteorological Department (IMD) forecasting the arrival of the southwest monsoon in the national capital by July 4.

According to the weather office, conditions are becoming favourable for the monsoon to advance further across several parts of north India, including Delhi, over the next five to six days. The forecast comes after the capital witnessed unusually high temperatures and delayed seasonal rainfall.

Monsoon expected to advance across north India

The IMD said the southwest monsoon is likely to progress into additional parts of Rajasthan, Punjab, Haryana, Chandigarh, Delhi, western Uttar Pradesh and Jammu and Kashmir during the coming days as weather systems create conducive conditions for its advance.

The expected arrival of the monsoon is likely to bring widespread rainfall activity and provide much-needed relief from scorching temperatures that have persisted across Delhi and adjoining regions. The city has experienced an extended period of heat, with temperatures remaining above normal in recent weeks.

The weather department has also issued heatwave warnings for parts of Uttar Pradesh even as monsoon activity gradually strengthens across northern India.

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