India to double Bangladeshi rice bran oil import
India's import of rice bran oil from Bangladesh is set to double in the current financial year 2020-21_ according to BV Mehta_ executive director of Solvent Extractors' Association of India. Import of rice bran oil from Bangladesh have already hit 60_000 tonnes during April-October this year compared to total 75_000 tonnes during 2019-20. "With the peak season of rice bran processing starting post-Diwali (November 14) as it is the harvest season for paddy_ we expect that total imports of rice bran oil during 2020-21 fiscal would go up to 1.5 lakh tonnes_" Mehta was quoted in Pune city by The Economic Times today. Unlike palm oil_ which was earlier being re-routed into India via Bangladesh to avail a duty advantage_ rice bran oil originates in Bangladesh and its import is covered by the South Asian Free Trade Agreement (SAFTA). Rice bran oil is one of the fastest-growing among edible oils and its import is increasing over the past four years_ Mehta said. India produces about one million tonnes of rice bran oil_ according to Mehta. In India_ rice bran oil is also used for blending with mustard oil_ which is one of the most expen.
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