Indian spices record an all time high in exports.

Kochi: India has recorded an all time high in spice export during 2009-10 by touching rupees 55.60 billion mark against rupees 53 billion in the previous year, despite global recession.

In terms of volume, India exported 5, 02,750 tonnes against 4, 70,520 tonnes in the years under reference.

"We have had a total export of almost 5 00,000 tonnes compared to 470,000 tonnes last year. And the export in value terms has gone up to 1.17 billion dollars compared to 1.3 billion dollars previous year," said VJ Kurien, Chairman, Spices Board.

The Board, however, expects a further increase in the exports in the years to come.

"We have anticipated that the medicinal value of spices will be more utilized and explored in the years to come. In 2005-06, the exports were roughly 560 million dollars, which increased to 1.2 billion in 2009-10.

We anticipate the increase to happen to 10 billion dollars in 2020 for which we anticipate that the medicinal value and the nutraceutical value of spices will be explored more and more research will be done into this stream," added Kurien.

In the export basket of spices and spice products, spice oils including mint products like mint oils, menthol crystals, and menthol powder contributed 34% of the total export earnings. Chilli contributed 23% followed by cumin 10%, turmeric 7% and pepper 6%.

The Spices Board has set an ambitious target of Rs 6000 crore (60 billion) for the coming year.

India is the largest producer, exporter and consumer of spices in the world.

It is the only country, which produces 75 varieties of spices out of the total of 105 spices the world over.


Source : DNA India