Record Rise In Spices Exports During 2009-10.

As per the latest release from the Spices Board Of India, export of spices and spice products from India has crossed 5,00,000 metric tonnes for the first time in the history of spice trade. Despite the economic slowdown in major consuming markets, the export of spices has recorded an all time high both in volume and value in 2009-10.

The export during 2009-10 has been 5,02,750 tonnes valued Rs.5,560.50 crores (US $1173.75 million) against 4,70,520 tonnes valued Rs.5,300.25 crores (US $1168.40 million) in the last financial year. Compared to last year, the export has shown an increase of seven per cent in volume and five per cent in rupee value. In dollar terms, the increase is 0.5 per cent.

The spices export during 2009-10 has also exceeded the target in terms of both volume and value. Against the export target of 4,35,000 tonnes valued Rs.4,500.00 crores (US$ 1,000.00 million) for the year 2009-10, the achievement is 116 per cent in quantity, 124 per cent in value (in dollar terms, the achievement is 117 per cent).

In the export basket of spices and spice products, spice oils and oleoresins including mint products like mint oils, menthol crystals, and menthol powder contributed 34 per cent of the total export earnings. Chilli contributed 23 per cent followed by cumin 10 per cent, turmeric seven per cent and pepper six per cent.

During the year, Indian spices and spice products reached more than140 countries in world. Leading among them are USA (16 per cent), Malaysia (8 per cent), China (7 per cent), UAE (6 per cent), and UK (5 per cent).

Source : indiainfoline.com