Export of spices and value added spice products recorded an year-on-year increase of 20% in volume terms and 4% in rupee value during the first three quarters of the current fiscal,state-run Spices Board said on Monday. India exported 797,145 tonne of spices and products valued at Rs 13,167.89 crore during April-December 2017 as against 663,247 tonne valued at Rs 12,607.46 crore in the corresponding period of 2016. In dollar terms, spices exports were pegged at $2,041.23 million as compared to $1,880.02 million, notching an increase of 9% in value.
Large shipments of small cardamom, cumin, garlic, asafoetida, tamarind and other seeds (ajwain or Bishop’s weed, mustard, dill and poppy seed) propelled an increase both in volume and value, thus contributing substantially to spice export basket and earning precious forex for the country. The export of value added products like curry powder, mint products, spice oils and oleoresins also increased in volume and value while the export of chilli, coriander, fennel and nutmeg and mace registered an increase in terms of volume only.
Spices Board chairman A Jayathilak noted that exports of spices like chilli showed a decrease in value despite increase in export volumes. “This has happened because of volatility in international spices trade. The fact is Indian spices have become a trusted global brand, but there is an imperative need to give a huge impetus to value added products and sustain their quality and flavour ” he added. By exporting 353,400 tonne, chilli earned Rs 3,241.83 crore in April-December 2017 as against 260,250 tonne and Rs 3,460.83 crore, respectively during the same period in 2016.
Cumin was the second-most exported spice, recording an increase of 15% in volume and 19% in value. A total volume of 104,260 tonne of cumin fetched Rs 1,761.70 crore as against Rs 1,480.79 crores and 91,024 tonne. It was small cardamom that registered maximum export growth both in terms of value and volume during the period. A total of 4,180 tonnes of this spice, valued at Rs 456.01 crores, was exported during April-December 2017 as against 2,910 tonnes worth Rs 297.80 crores during the corresponding period in 2016, registering an increase of 44% in volume and 53% in value.
Mint products accounted for 16,500 tonnes in volume and Rs 2220.36 crores in value as compared to 14,850 tonnes and Rs 1645.55 crores in 2016, registering an increase of 11% in volume and 35% in value, respectively. Garlic also chipped in substantially with a total volume of 37,830 tonnes valued at Rs 255.58 crores as against 19,729 tonnes and Rs.196.06 crores, respectively in the first three quarters of FY 2016-17.
As for value added products, the export of curry powder or paste was 25,200 tonnes worth Rs 517.52 crore as against 23,027 tonnes valued at Rs 468.35 crores, registering an increase of 9% in volume and 10% in value. During the period, 12,700 tonnes of spice oils and oleoresins valued Rs 1873.22 crores were exported as against 9,251 tonnes and Rs 1695.17 crores a year ago , marking an increase of 37% in volume and 11% in value.
Source: financialexpress.com