Competition forces spice exporters to explore new markets.

MUMBAI: Indian spice exporters are exploring new destinations for exports due to stiff competition from several Asian countries, a leading industry official said.

India is losing its presence in the international market as far as exports of major spices such as black pepper, cardamom, ginger and cinnamon are concerned.

The country is facing tough competition from countries like China, Brazil, Guatemala, Indonesia, Vietnam and the Philippines.

"In view of such tough competition, Indian exporters have no other option but to explore new destinations for exports of new spices," Indian Spices and Foodstuff Association's President Bhaskar Shah said.

Exporters from Mumbai and Gujarat have established and explored fresh markets with a new set of spice powders such as turmeric chilly, cumin and coriander.

To some extent, these exporters have successfully marketed their products to the Far East, the Middle East, Europe, the US and Latin America over the past three years, Shah said.

Indian exporters have now ventured into Latin American countries, East European and Islamic countries, Indian Spices and Foodstuff Association's Vice-Chairman Yogesh Mehta said.

Mumbai is a major exporting hub for spices and the region accounts for a whopping share of 45 per cent in volume of the total exports during the last financial year when the country's exports crossed the Rs 4,500-crore mark.

The western region which accounts for 45 per cent of total spices exports from India expects a 10 per cent CAGR growth, Mehta said.

Meanwhile, the spices Board has honoured the Western India-based leading exporter, Jabs International, with the award of 'Topmost Exporter of Spices' for the year 2007-08 and 2008-09.

Jabs International has exported spices worth Rs 450 crore for 2007-08 and Rs 500 crore for 2008-2009.

Source : The Economic Times