After registering a growth of 23 per cent in 2011, spice export from India is likely to post a rise of 18 per cent in the fiscal 2012-13 in value terms in spite of the global economic slowdown.
According to the Indian Spice & Foodstuff Exporters’ Association (ISFEA), total spice production of India during fiscal 2011 was 50 lakh tonnes which was worth around Rs 55,000 crore. Out of this, five lakh tonnes valued at Rs 5,500 crore was exported leaving the rest for domestic consumption.
The annual export growth rate for FY11 which was 4.5 per cent is likely to be 5 per cent in terms of volume in fiscal 2011-12.
Yogesh M Mehta, chairman of ISFEA, said the purpose of the trade meet was to bridge the gap between EU and Indian standard on major spices and to have first-hand knowledge on regulations governing spices import into EU.
Source : indianexpress.com