India to ship 10,000 tonne of rice bran oil this fiscal

New Delhi: India is expecting to increase exports of rice bran oil to 10,000 tonnes this financial year as compared to 2,000 tonnes last year as the government has eased restrictions on its bulk sale. Mr B V Mehta, Executive Director for Solvent Extractors' Association of India (SEA) indicated that strong demand for rice bran oil from countries like Japan and Thailand and was hopeful that new destinations like Australia, New Zealand, US can also be explored for exports of rice bran oil now compared to earlier, when all output was absorbed in the domestic market due to restrictions. India has the potential to produce 8.76 million tonnes of rice bran and 1.53 million tonnes of rice bran oil. India was the highest producer of rice bran oil with an output of 0.95 million tonnes in FY 2014-15, followed by China with 0.2 million tonnes and Japan with 80,000 tonnes. India also produces the best quality rice bran oil with more than 150 solvent extraction units producing the oil. The total global production of rice bran oil is 1.5 million tonnes this year, out of which India is expected to produce 0.997 million tonne.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.