Govt approves exporting 58,000 tonnes of rice bran oil

The Ministry of Commerce on Tuesday, September 23, approved 23 firms to export 58,000 tonnes of rice bran oil.

As single entity, Majumder Agrotech International Ltd, and Bogura Multi Oil Mills Ltd secured approval of exporting 10,000 tonnes of oil each, according to a letter issued by the ministry today.

Sources in the ministry said the government imposed various restrictions, including taking prior approval from the government, from January 15 for exporting rice bran oil aimed at increasing the supply of edible oil in the local market, and since then, it did not give any approval.

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Now the approval was given following the applications to the Commerce Ministry by traders for the last couple of months seeking the export permission.

Bangladesh exported around 75,000 tonnes of rice bran oil worths Tk about 974 crore in the last fiscal year 2024-25, according to the Export Promotion Bureau (EPB) and the National Board of Revenue (NBR).

NH/MSU