Spice Exports Record New High On Chilli And Mint.

Export earnings from spices crossed $ 1500 million during the last FY largely due to good performance by chilli and mint products. Exports of spices and its value added products registered an all time high in both volume and value during the last FY, registering an increase of 5 % in volume and 23 % in value.

According to Spices board data, India exported 525,750 tonne of spices valued at R6840.71 crore during 2010-11, as against 5,02,750 tonne valued at R5,560.50 crore ($1173.75 billion) during 2009-10.Interestingly, the Spices board had revised downwards the target for the last FY due to the economic slowdown in the US and EU market. The spices export target for the FY 2010-11 stands at 465,000 tonne valued R5100.00 crore.

During the period, a total quantity of 2,40,000 tonne of chilli valued at R1535.54 crore have been exported as against 204,000 tonne valued R1291.73 crore of last year, registering an increase of 18 % in quantity and 19% in value. Chilli exports has been increasing consistently in both volume and value during the past two years due to lower production in China. During the FY, 18,850 tonne of pepper valued at R383.19 crore was exported from the country as against 19,750 tonne valued at R313.93 crore during the FY 2009-10.Volume of exports is lower by 4.5% while earnings are higher by 22%.Ginger exports during the last FY are higher by 186 % in volume and 159 % in value when compared wit the performance of 2009-10. Shortfall in the Chinese ginger crop is the major reason for the significant increase, board sources said.Cardamom , turmeric and mint products have registered increase in earnings over the pervious year on lower volumes. Export of cardamom coriander, cumin, celery, fenugreek, and other seed spices have declined in both volume and value during the period.

Source : financialexpress.com