India’s rice bran oil imports from Bangladesh are set to double in 2020-21.
The imports of such oil from Bangladesh have already hit 60,000 tonnes during the April-October period compared with 75,000 tonnes during 2019-20.
“With the peak season of rice bran processing starting post-Diwali – as it is the harvest season for paddy – we expect that total imports of rice bran oil during 2020-21 fiscal would stand at 1.5 lakh tonnes,” said BV Mehta, executive director of the Solvent Extractors’ Association of India.
Unlike palm oil, which was earlier being re-routed into India via Bangladesh to avail of a duty advantage, rice bran oil originates in Bangladesh and is protected under the South Asian Free Trade Agreement.