You are here: Home » News-IANS » Business-Economy
Business Standard

India earns record Rs 17,664 crore from spices exports

IANS 

Kochi, June 14 ( IANS) Indian spices and spice products surged to a record export growth worth Rs 17,664.61 crore ($2633.30 million) and a volume of 9,47,790 tonnes in 2016-17.

The grew 12 per cent in value and nine per cent in rupee terms compared with 2015-16.

Chilli continued to be the most exported at 4,00,250 tonnes amounting to Rs 5,070.75 crore and registered an increase of 15 per cent in volume and 27 per cent in value.

Cumin was the second-most exported spice, recording an increase of 22 per cent in volume and 28 per cent in value. A total volume of 1,19,000 tonnes of cumin valued at Rs 1,963.20 crore was exported from in 2016-17.

"has surpassed all previous export records and has fulfilled the increasing international demand for its quality spices in the face of tough competition in global markets," said Spices Board chairman A. Jayathilak.

Increased global demand for turmeric, especially in the pharmaceutical sector, drove its to 1,16,500 tonnes in volume and crossed Rs 1,241 crore in value terms in 2016-17.

The spice which showed the maximum increase over the previous financial year was fennel, registering a 129 per cent increase in volume and 79 per cent in value.

Garlic contributed substantially to the overall growth during the year, notching figures of 92 per cent in value terms and 39 per cent in quantity.

The export demand of nutmeg and mace was also on a higher side, registering an increase of 25 per cent to 5,070 tonne, as compared to 4,050 tonne during 2015-16.

The export of celery rose from 5,310 tonnes valued at Rs 53.28 crore in 2015-16 to 6,250 tonnes worth Rs 62.46 crore in 2016-17.

Jayathilak said the efforts of Spices Board to promote production of large cardamom, especially in the country's north-eastern region, which is the organic area by default, led to a rise in its by 30 per cent in volume and nine per cent in value.

--IANS

sg/ahm/vt

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

India earns record Rs 17,664 crore from spices exports

Kochi, June 14 ( IANS) Indian spices and spice products surged to a record export growth worth Rs 17,664.61 crore ($2633.30 million) and a volume of 9,47,790 tonnes in 2016-17.

Kochi, June 14 ( IANS) Indian spices and spice products surged to a record export growth worth Rs 17,664.61 crore ($2633.30 million) and a volume of 9,47,790 tonnes in 2016-17.

The grew 12 per cent in value and nine per cent in rupee terms compared with 2015-16.

Chilli continued to be the most exported at 4,00,250 tonnes amounting to Rs 5,070.75 crore and registered an increase of 15 per cent in volume and 27 per cent in value.

Cumin was the second-most exported spice, recording an increase of 22 per cent in volume and 28 per cent in value. A total volume of 1,19,000 tonnes of cumin valued at Rs 1,963.20 crore was exported from in 2016-17.

"has surpassed all previous export records and has fulfilled the increasing international demand for its quality spices in the face of tough competition in global markets," said Spices Board chairman A. Jayathilak.

Increased global demand for turmeric, especially in the pharmaceutical sector, drove its to 1,16,500 tonnes in volume and crossed Rs 1,241 crore in value terms in 2016-17.

The spice which showed the maximum increase over the previous financial year was fennel, registering a 129 per cent increase in volume and 79 per cent in value.

Garlic contributed substantially to the overall growth during the year, notching figures of 92 per cent in value terms and 39 per cent in quantity.

The export demand of nutmeg and mace was also on a higher side, registering an increase of 25 per cent to 5,070 tonne, as compared to 4,050 tonne during 2015-16.

The export of celery rose from 5,310 tonnes valued at Rs 53.28 crore in 2015-16 to 6,250 tonnes worth Rs 62.46 crore in 2016-17.

Jayathilak said the efforts of Spices Board to promote production of large cardamom, especially in the country's north-eastern region, which is the organic area by default, led to a rise in its by 30 per cent in volume and nine per cent in value.

--IANS

sg/ahm/vt

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22

India earns record Rs 17,664 crore from spices exports

Kochi, June 14 ( IANS) Indian spices and spice products surged to a record export growth worth Rs 17,664.61 crore ($2633.30 million) and a volume of 9,47,790 tonnes in 2016-17.

The grew 12 per cent in value and nine per cent in rupee terms compared with 2015-16.

Chilli continued to be the most exported at 4,00,250 tonnes amounting to Rs 5,070.75 crore and registered an increase of 15 per cent in volume and 27 per cent in value.

Cumin was the second-most exported spice, recording an increase of 22 per cent in volume and 28 per cent in value. A total volume of 1,19,000 tonnes of cumin valued at Rs 1,963.20 crore was exported from in 2016-17.

"has surpassed all previous export records and has fulfilled the increasing international demand for its quality spices in the face of tough competition in global markets," said Spices Board chairman A. Jayathilak.

Increased global demand for turmeric, especially in the pharmaceutical sector, drove its to 1,16,500 tonnes in volume and crossed Rs 1,241 crore in value terms in 2016-17.

The spice which showed the maximum increase over the previous financial year was fennel, registering a 129 per cent increase in volume and 79 per cent in value.

Garlic contributed substantially to the overall growth during the year, notching figures of 92 per cent in value terms and 39 per cent in quantity.

The export demand of nutmeg and mace was also on a higher side, registering an increase of 25 per cent to 5,070 tonne, as compared to 4,050 tonne during 2015-16.

The export of celery rose from 5,310 tonnes valued at Rs 53.28 crore in 2015-16 to 6,250 tonnes worth Rs 62.46 crore in 2016-17.

Jayathilak said the efforts of Spices Board to promote production of large cardamom, especially in the country's north-eastern region, which is the organic area by default, led to a rise in its by 30 per cent in volume and nine per cent in value.

--IANS

sg/ahm/vt

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22