The Hindu : Business : India’s spice exports up by 50 p.c.

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Thursday, Nov 29, 2007
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India’s spice exports up by 50 p.c.

K. Venkiteswaran

KOCHI: Spices exports during the first seven months of the financial year 2007-08 have gone up by 50 per cent in value compared to the same period of last year.

India exported 2,62,250 tonnes valued Rs.2540.15 crore ($ 625.23 million) this year compared to the export performance of 206,150 tonnes valued Rs.1918.94 crore ($ 417.97 million) in the same period of 2006-07.

In value terms the export is higher by 50 per cent (in dollar terms) and 27 per cent in volume.

In rupee terms of value, the growth is 29 per cent. Against the target of 380,000 tonnes valued Rs.3,600 crore ($ 875 million) fixed for the year, the achievement so far is 69 per cent of quantity and 71 per centof value.

The performance of pepper, cardamom (large), chilli and seed spices like coriander, celery, fennel, and fenugreek was better than last year. Value added spices such as curry powder, spice oils and oleoresins and mint products have also done well. However, the performance of garlic, nutmeg and mace and vanilla was not as expected both in terms of quantity and value.

In the case of cardamom (small) even though there was a decline in volume, the export value was up by 10 per cent owing to the increase in unit value. The value realisation from turmeric exports was lower by 6 per cent and it is expected that this will improve in the coming months.

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