The healthy properties of rice bran appear to have caught the attention of branded edible oil makers, who are now launching products based on it.
Ahmedabad-based Adani Wilmar, promoters of the Fortune brand of edible oils, has just launched a 100 per cent rice bran oil, appointing actor Lara Dutta to promote it.
Currently, there are a few regional players promoting 100 per cent rice bran oil, but no national-level player operating in the segment. Marico's Saffola Gold and Agrotech's Sundrop Heart are products that blend rice bran with other oils such as sunflower or kardi. These products are priced at nearly Rs 150 a litre.
In a bid to make inroads in the marketplace, Adani has priced its rice bran oil at Rs 115 a litre. "Rice bran has oryzanol, which is considered good for the heart," says Angshu Mallick, chief operating officer. Adani Wilmar, Persons in the know say that companies such as Cargill and Bunge are likely to launch 100 per cent bran oil products in the future in an attempt to capitalise on the growing health consciousness among consumers.
The overall edible oil market in volume terms is pegged at 165-170 lakh metric tonnes. Of this, palm oil alone constitutes 95 lakh metric tonnes. With the balance consisting of soyabean oil and mustard oil at 20 lakh metric tonnes each, sunflower oil at 12 lakh metric tonnes and coconut oil at 5 lakh metric tonnes. Rice bran oil, considered an emerging segment, has only about 2 lakh metric tonnes at the moment in branded form. Experts say this segment is likely to grow as players drive affordibility and educate consumers about its health benefits.