Govt allows export of 58,000 tonnes of rice bran oil

The government has allowed the export of 58,000 tonnes of rice bran oil by 23 producers.

Each oil producer is permitted to export between 500 and 10,000 tonnes of the cooking oil, with the authorisation valid until November 30, 2025, according to the commerce ministry's circular issued on Tuesday.

This approval is non-transferable and applies strictly to the designated exporters.

During shipments, traders must comply with the Export Policy 2024-2027, and all consignments will be subject to thorough physical inspections by the respective customs offices.

Besides, the traders will only be able to export the designated volume set by the commerce ministry, and the government reserves the right to halt any shipment at any time, as outlined in the official directive.

Previously, the commerce ministry had imposed a restriction on the export of rice bran oil due to concerns over domestic availability. However, the ban was lifted in 2022 following a decline in local demand.

According to the Bangladesh Rice Bran Oil Mills Association (BRBOMA), the rice bran oil mills in the country have a combined annual capacity of over 1.63 million tonnes.

Currently, domestic demand for rice bran oil remains modest, but it has been increasing gradually, industry sources say.

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