/Reuters Agency
India lifted the ban on exports of de-oiled rice bran with immediate effect, ending restrictions that had been in place for more than two years, the government reported.
Before the restriction was imposed in July 2023, India shipped 500,000 metric tons of de-oiled rice bran per year, valued at approximately $112.6 million, mainly to Vietnam, Thailand, and other Asian countries.
The resumption of exports will lead to increased production of both de-oiled rice bran, used in the livestock feed industry, and rice bran oil, according to industry representatives.
Prices of de-oiled rice bran have halved since July 2023, settling around 10,000 Indian rupees ($113) per ton, according to the Solvent Extractors’ Association of India (SEA).
B.V. Mehta, executive director of the SEA, noted that the resumption of exports will benefit the rice milling and solvent extraction industry, especially in eastern India, in addition to helping farmers and processors get better value for rice bran byproducts.
India is the world’s largest importer of vegetable oils, including palm, soybean, and sunflower oils, which it primarily buys from countries like Malaysia, Indonesia, Argentina, Russia, and Ukraine.
Mehta stated that the revival of de-oiled rice bran exports should make extraction profitable and increase the supply of rice bran oil, which India needs to reduce its imports.
Ajay Jhunjhunwala, an oil miller in Lucknow, in northern India, said he believes exports will revive local prices and allow the industry to export the surplus.
