The Hindu : Business : Spices exports up 23 per cent

Online edition of India's National Newspaper
Tuesday, Feb 12, 2008
ePaper | Mobile/PDA Version

Business

Business

Spices exports up 23 per cent

Special Correspondent

During the first three quarters of current financial year

The major buyers of Indian pepper are U.S., U.K. and Italy
Export of fenugreek increased to 8,750 tonnes

Kochi: During the first nine months of the financial year 2007-08, spices export from India reached 3,18,635 tonnes, valued Rs.3155.20 crore (U.S. $ 781.07 million). It is a 23 per cent rise in value in rupee terms and a 19 per cent rise in volume compared to the 2,68,120 tonnes valued Rs.2575.08 crore (U.S.$ 564.61 million) exported during the same period in 2006-07. In dollar terms of value, the growth is 38 per cent. Of the target of 3,80,000 tons valued Rs.3,600 crore (U.S.$ 875 million) fixed for the current financial year, 84 per cent of quantity and 89 per cent of value have been realized in the first three quarters, says an official press release here.

Pepper, chilli, coriander, fennel, fenugreek and other miscellaneous spices performed better than last year. Value-added spice products like curry powder, spice oils and oleoresins, and mint products also did better compared to last year. Performance of items such as cardamom, ginger, turmeric, cumin, celery, garlic, vanilla, nutmeg and mace fell short of last year’s performance.

During April-December 2007, the export of pepper from India was 27,000 tonnes valued Rs.391.63 crore, which is 24 per cent higher in quantity and 77 per cent in value compared to last year’s achievement of 21,780 tonnes valued Rs.221.82 crore. The average f.o.b unit value increased to Rs.145.05 per kg from last year’s Rs.101.84 per kg. During the period, Indian pepper became more competitive in the international market than other major producing countries like Vietnam, Indonesia and Malaysia. The major buyers of Indian pepper are U.S. followed by U.K., Italy, Germany and Canada.

During the first nine months of this financial year, export of chilli exceeded the target fixed for the item, both in terms of quantity and value. During the period, India exported 1,45,500 tonnes of chilli valued at Rs.785.37 crore against 95,100 tonnes valued Rs.499.25 crore exported last year. Malaysia is the largest buyer of Indian chilli followed by other traditional buyers like Bangladesh, Sri Lanka and U.S. The export of chilli accounts for 46 per cent in terms of quantity and 25 per cent in terms of value of the total spices exported from India. Presently, India is the major source of red chilli in the international market. Stringent quality measures such as mandatory sampling and analysis for presence aflatoxin and adulterant Sudan in export consignments has made Indian chilli more acceptable in the international market.

Among seed spices, coriander, fennel, and fenugreek performed better than last year. During April-December 2007, 18,500 tonnes of coriander valued Rs.75.42 crore were exported, as against 15,080 tonnes valued Rs.55.36 crore exported last year.

It is reported that east European countries like Romania and Bulgaria, where coriander is produced, suffered drought condition and the supply from there was on the lower side. During the year, 3,850 tonnes of fennel valued Rs.21.16 crore were exported as against 2,645 tonnes valued at Rs.17.49 crore exported last year. During the same period, export of fenugreek increased to 8,750 tonnes valued Rs.25.36 crore as against last year’s 5,965 tonnes valued Rs.19.11 crore.

In the case of cumin seed, there is a 17 per cent decline in export volume; from 21,775 tonnes to 18,000 tonnes. However, the export value has shown an increase of 16 per cent.

Printer friendly page
Send this article to Friends by E-Mail

Business

News Update

Stories in this Section