Spices exports cross $2 billion in 2011-12 fiscal .

NEW DELHI: India's spices exports rose by 36 per cent to USD 2.04 billion in value terms in 2011-12 fiscal on account of increase in value realisation of spices, especially chilli and pepper.

In the previous fiscal, the country had earned foreign exchange of USD 1.5 billion from spices exports, according to the latest data released by the Spices Board of India.

The volume of shipments in the last fiscal rose by almost 10 per cent to 5.75 lakh tonnes from 5.25 lakh tonnes in the 2010-11 financial year.

The earnings from export of spices in rupee terms rose by 43 per cent to Rs 9,783.42 crore in 2011-12 fiscal as against Rs 6,840.70 crore in the year-ago period.

The Spices Board had set a target of earning forex revenue of Rs 6,500 crore (USD 1.45 billion) with a volume of 5 lakh tonnes in the last fiscal from export of spices.

Spices export earnings rose mainly on the back of increased realisation from mint products, chilli, pepper and spice oils & oleoresins.

The export value of mint products rose by 31 per cent to Rs 2,223.72 crore in 2011-12 fiscal from Rs 1,696.79 crore in the 2010-11 fiscal, despite a decline of 15 per cent in its volume to 14,750 tonnes from 17,450 tonnes in the same period.

The unit value of mint produced rose to Rs 1,507.61 per kg last fiscal from Rs 972 per kg in 2010-11 fiscal.

In the case of chilli, export earnings rose by 40 per cent to Rs 2,144.08 crore last fiscal from Rs 1,535.54 crore in the year-ago period. There was a marginal increase in the volumes to 2.41 lakh tonnes from 2.40 lakh tonnes in the reviewed period.

Similarly, unit value of chilli increased to Rs 88.97 per kg as 2011-12 against Rs 63.98 per kg in 2010-11.

The earnings from export of spice oils & oleoresins rose by 43 per cent to Rs 1,304.38 crore in 2011-12 compared to Rs 910.62 crore in 2010-11, while volumes declined by 4 per cent to 7,265 tonnes from 7,600 tonnes in the same period.

The unit value of spice oils & oleoresins, used in food and cosmetics, rose to Rs 1,795.43 per kg in 2011-12 from Rs 1,198.19 per kg in 2010-11.

Pepper export earnings rose by a whopping 129 per cent to Rs 878.13 crore in the last fiscal from Rs 383.18 crore in the year-ago period, while volume of shipments rose by 42 per cent to 26,700 tonnes from 18,850 tonnes in the same period.

The unit value of pepper rose to Rs 328.89 per kg in 2011-12 as against Rs 203.28 per kg in 2010-11.

Source : economictimes.indiatimes.com