You don't say what OD you want, so are we to assume that you want a 19 mm bore that is concentric with the 32 mm OD?
If so, why not, as already suggested, by Jason.
Cut off a piece 20 mm long
Mount in 4 Jaw chuck and adjust to run true within your tolerance for eccentricity.
Face and chamfer
Assuming that the faced end is outermost, centre drill, and gradually open up to say, 12 mm part way through (To minimise chance of drill wander )
Reverse in chuck, and realign for minimum eccentricity.
Face to length, and chamfer.
Centre drill and gradually open up to 12 mm. Hopefully the drill will be able to pass right through without problems.
Enlarge hole to 19mm. Bore through for the last 1mm, taking several spring cuts.
Hopefully, you will now have the end product that desire.
Howard