Odisha Chief Secretary Bats For Promoting Rice Bran Oil Units

Bhubaneswar: Rice bran, once considered not of much use beyond cattle feed and fuel in Odisha is emerging as a boon for farmers because of agri-technology popularization initiatives of the government.

The fact came to light during a high-level review meeting chaired by Chief Secretary Asit Tripathy from the Lok Seva Bhawan on virtual mode, said an official press note issued here today.

Considering the potential for production of rice bran oil in Odisha, Tripathy directed to make demand assessment of the rice bran oil and the present availability of the raw material for the promotion of small and medium enterprises in this sector.

“Since rice bran oil contains immune-supporting nutrients and unsaturated fat, it can be developed to an attractive enterprise for young entrepreneurs,” Tripathy said.

“Proper assessment of the market demand and economy involved in the trade will be a reliable guide for the young entrepreneurs,” he added.

Outlining the covid response revised policies, Principal Secretary MS&ME Satyabrata Sahu said, “Incentives like interest subsidy @ 5% per annum for 5 years on term loan from the date of commercial production, 75% net SGST reimbursement for 5 years up to the limit of 100% investment on plant and machinery, exemption of electricity duty up to contract demand of 500 KVA for 5 years, assistance for quality certification, employment cost subsidy and technical knowhow now available for the sector”.

“As of now, 12 rice bran units are operating in the State. Out of these seven are in Bargarh district, one is in Jajpur district, one is in Khordha district, two are in Koraput district and one is in Balasore district,” informed Director Industries Reghu G.

The A total amount of Rs 1115.34 lakh incentive/subsidy has been provided to the eligible units.
“This type of enterprise is quite rewarding. Around 800 milligram of healthy edible oil can be extracted from the bran generated from one quintal of paddy,” Asst Director Industry M M Patra said.

This oil sells at a higher price in the market than that of the normal refine oil. There is potential for more such units through local entrepreneurs in paddy rich districts, he added.

Principal Secretary Finance Ashok Kumar Meena, Additional Director Industry Saroj Hotta along with senior officers of concerned departments participated in the discussions.