India's spice exports shoot up by 41 percent

Last Updated: Fri, Mar 28, 2014 14:45 hrs

India exported about 57,1680 tonnes of spices in April-December, estimates by Spices Board India showed, indicating exports in the financial year ending March 31 are likely to be much higher than the previous year.

The increase was mainly due to a rising demand for mint, chilly and seed spices. Total exports in the current financial year are seen higher than the last year, registering a 41 per cent growth in terms of rupee value during April-December 2013.

Spice exports in the last financial year (2011/12) stood at 44,9926 tonnes, said A Jayathilak, Chairman, Spices Board India who added that the export performance of mint, chilly, value-added products and seed spices points to a promising future for the spice industry.

"More than 150 countries are the beneficiaries of Indian exports, but the fastest growing markets are the new markets like Central America, South America and Africa because their traditional markets like USA and Europe are almost saturated but the growth area is in the developing markets," said Jayathilak.

Mint topped the list in terms of value despite it being produced in a very few regions of the country with an export turnover of 17,850 tonnes in volume.

Amongst the seed spices, cumin registered a prominent increase of 89 per cent in volume and 83 per cent in value with a total export volume of 96,500 tonnes.

Jayathilak also pointed out that 92 per cent of the target in terms of volume and 91 per cent in terms of value set for spice exports during the financial year 2013-14 has been achieved.

Speaking further on the future plans, he said that the board is targeting exports of 2.3 billion US dollars in 2013-14 fiscal year and adding that the board is also promoting the branding of organic spices by developing a nexus between the farmers and organic spices exporters.

"In the export basket right now organic spices is less than 2 percent and that is a huge area to develop. We have 98 percent left. If we can convert our spice basket with more and more of organic spice exports we can capture the whole market," said he.

Many value- added products are in the pipeline such as spice chocolates, oils, soaps, creams and even spice- dyed clothes, of which some are in the final development stage. (ANI)

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