Business Other News 23 Apr 2018 India's spices ...

India's spices exports rise 20 per cent in April-Dec 2017

PTI
Published Apr 23, 2018, 5:19 pm IST
Updated Apr 23, 2018, 5:19 pm IST
During the corresponding period in 2016, 6.63 lakh tonnes valued at Rs 12,607.46 crore was exported.
India exported about 7.97 lakh tonnes of spices and spice products worth Rs 13,167.89 crore during April-December 2017, an increase of 20 per cent in volume and four per cent in Rupee terms. (Photo: Pixabay)
 India exported about 7.97 lakh tonnes of spices and spice products worth Rs 13,167.89 crore during April-December 2017, an increase of 20 per cent in volume and four per cent in Rupee terms. (Photo: Pixabay)

Thiruvananthapuram: India exported about 7.97 lakh tonnes of spices and spice products worth Rs 13,167.89 crore during April-December 2017, an increase of 20 per cent in volume and four per cent in Rupee terms.

During the corresponding period in 2016, 6.63 lakh tonnes valued at Rs 12,607.46 crore was exported, a Spices board press release said.

 

In Dollar terms, spices exports were pegged at USD 2041.23 million as compared to US$ 1880.02 million, notching an increase of nine per cent in value.

Large shipments of small cardamom, known as the 'Queen of Spices', cumin, garlic, asafoetida, tamarind and other seeds (ajwain or Bishop's weed, mustard, dill and poppy seed) propelled an increase both in volume and value.

The export of value added products like curry powder, mint products, spice oils and oleoresins also increased in volume and value while export of chilli, coriander, fennel and nutmeg and mace registered an increase in terms of volume only.

"India has been able to sustain the demand for its trademark spices in international markets in the face of stiff competition and stringent food safety regulations that now define the international commodity trade," said Spices Board Chairman Dr A Jayathilak.

Exports of spices like chilli showed a decrease in value despite increase in export volumes, he said, attirubuting it to volatility in international spices trade.

Though Indian spices have become a trusted global brand, there is an imperative need to give a huge impetus to value added products and sustain their quality and flavour, he said.

By exporting 353,400 tonnes, chilli earned Rs 3,241.83 crore in April-December 2017 as against 260,250 tonnes and Rs 3,460.83 crore respectively during the same period in 2016.

Cumin was the second-most exported spice, recording an increase of 15 per cent in volume and 19 per cent in value. A total volume of 104,260 tonnes of cumin fetched Rs 1,761.70 crore as against Rs 1,480.79 crore and 91,024 tonnes.

But it was small cardamom that registered maximum export growth both in terms of value and volume during the period.

A total of 4,180 tonnes of this spice, valued at Rs 456.01 crore, was exported in April-December 2017 as against 2,910 tonnes worth Rs 297.80 crore in the corresponding period in 2016.

There was an increase of 44 per cent in volume and 53 per cent in value. Mint products accounted for 16,500 tonnes in volume and Rs 2,220.36 crore in value as compared to 14,850 tonnes and Rs 1,645.55 crores in 2016, an increase of 11 per cent in volume and 35 per cent in value respectively.

Garlic also chipped in substantially with a total volume of 37,830 tonnes valued at Rs 255.58 crore as against 19,729 tonnes and Rs 196.06 crore respectively in the first three quarters of FY 2016-17, registering an increase of 92 per cent in volume and 30 per cent in value.

During the period, 12,700 tonnes of spice oils and oleoresins valued Rs 1,873.22 crore were exported as against 9,251 tonnes and Rs 1695.17 crore in April-December 2016, an increase of 37 per cent in volume and 11 per cent in value.

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT