MUMBAI: India’s rice bran oil exports could surge to 10,000 tonnes this fiscal year ending March 2016 from about 2,000 tonnes last year after the government allowed bulk sale instead of just consumer packs, an industry official told Reuters.
Rice bran oil is considered healthier and fetches a premium over soyoil and palm oil. India produces nearly 1 million tonnes of rice bran oil, but the domestic market absorbed nearly all of the output due to restrictions on overseas sales.
“There is very good demand for Indian rice bran oil from countries like Japan and Thailand,” said B.V. Mehta, executive director of the Solvent Extractors’ Association, on the sidelines of the Global Rice Bran Oil Conference.
A.R. Sharma, managing director of Ricela Health Foods Ltd, India’s biggest producer of rice bran oil, said exports could jump to 30,000 tonnes next fiscal year.
