Rice bran oil market may grow by 15% this year: SEA

With gaining popularity of rice bran oil as a healthy option for cooking, its market in the country is estimated to grow by 15 per cent to Rs 4,600 crore this year, industry body SEA said.

Rice bran oil, which is produced from brown layer of rice, is considered to be a healthy cooking oil as it contains properties of lowering cholestrol levels.

“At present, the market for rice bran oil is around Rs 4,000 crore. We expect it to touch Rs 4,600 crore by the end of this year,” Solvent Extractors Association (SEA) Rice Bran Oil Promotion Council Chairman A R Sharma told PTI.

Sharma, who also heads Ricela Health Food Ltd, said the demand for rice bran oil is growing among consumers because of health benefits.

Many local brands such as Fortune, Saffola, Sundrop and Dhara are selling rice bran oil separately, while some of them are blending it with other cooking oils, he added.

According to the SEA, the current production of rice bran oil is around 8 lakh tonnes and some food companies are raising the production capacity to meet the growing demand.

An official of the Mother Dairy Fruits and Vegetables Ltd, which sells rice bran oil under ‘Dhara’ brand, said the demand has doubled for this oil because of health benefits.

A similar view was shared by Marico Ltd, which are makers of ‘Saffola’ brand of edible oils. Saffola blends 80 per cent of rice brand oil with other cooking oils.

India being the world’s second biggest rice producer at 104.22 million tonnes this year, the country has huge potential to scale up rice bran oil output.

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