Setting up a rice bran oil mill factory in Bangladesh involves several factors that can influence the total cost. Here are some key points to consider:
- Raw Material: Bangladesh is the 4th largest rice producing country in the world. Near two-thirds of the population is engaged in livelihood activities related to rice. Therefore, the raw material cost for your rice bran oil mill factory will be reduced significantly.
- Site Selection: The site for your rice bran oil factory must be near from the rice mill, which will reduce transportation cost of your oil factory. If you have your own rice mill, setting up a rice bran oil factory would be a valuable investment.
- Machinery: The most important part is to buy rice bran oil processing machines for the rice bran oil factory. Professional vegetable oil machine manufacturers can provide high quality rice bran oil processing machines and rice bran oil manufacturing process design.
- Land and Permits: You need to find suitable land to build your rice bran oil mill workshop. You also need to get permits and factory build certificate from government.
- Finance Support and Team Build: You may need finance support and a team to run the factory.
As for the exact cost, it can vary greatly depending on these factors and more. One source suggests that starting a rice bran oil production business could cost around $1.2 million per year. However, this is just an estimate and the actual cost could be higher or lower.
Please note that this information is based on available online resources and you should conduct thorough research or consult with Huatai Rice Bran Oil Machinery for more accurate information.