28% surge in spices exports, value spurts 46% in Apr-Nov

Spices exports from India  have achieved an increase of 28%  in terms of volume, 46% in  terms of value in Rupees and 32% in terms of  value in Dollars, during April – November period of the current fianancial year, compared to April- November 2012. Exports ascended new heights with the export figures reaching Rs 8,377.20 crore [US $ 1,396.51 million] in value with a corresponding exported volume of 508,555 tonnes  during April- November 2013. In April-November 2012, India exported 398,000 tonnes,  value at  Rs 5,732.25 crore ($1,055.82 million).  Increased demand for Indian spices in the international arena is a testimony to their nonpareil quality and escalating faith in their sustainability,  said  A Jayathilak,  Chairman, Spices Board India.

The mint basket with products such as mint oils, menthol and menthol crystals ruled the roost with an export of 15,850 tonnes  which earned a colossal sum of Rs 1,975.17 crore. It showed an increase of 129% in volume and 62% in value when compared to the export of 6,916 MT during the same period in the previous year, which fetched Rs 1,223 crore. Falling right behind is chilli, which was the largest currency earner during April-November 2012. This year a  total volume of 181,500  tones  of chilli got exported for the value of Rs 1,614.17 crores whereas last year it was 174,798 tones for Rs. 1408.68 crores, Spices Board said.

Cumin recuperated from its slump and made a come back with an export of 86,500 tonnes  for Rs 1,150.56  crore over last year's (April- November) export of 44,436 tones  for Rs 604.16 crore which converted to a percentage increase of 95% and 90% in volume and value respectively.

Value added spice products continued to be the deal maker this year as well. Spice oils & oleoresins and curry powders & pastes  witnessed new highs, fetching a value of Rs 1,110.84 crore and Rs 230.19 crore respectively, with notable growth of 37 and 56% on the value front. In terms of volume, they showed a rise of 48% and 47% respectively.

Pepper and Turmeric have asserted their prominent position in the spices export arena marking an increase of 42 and 41% respectively in value, with a corresponding export volume of 13,700 tones  and 50,500 tones.   During April- November 2013 the exports of Pepper and Turmeric were valued at Rs. 572.26 crores and Rs. 408.28 crores respectively.

Coriander brought home Rs 235.57 crore enjoying a 119 percentage increase in value . During the corresponding term in the previous year, the spice was able to assimilate Rs. 107.65 crore only in export. The current term witnessed an export of 29,800 MT of coriander with a rise of 47% in volume. A total of 3350 MT of Nutmeg & Mace, valued at Rs. 198.12 crores,   exported in April- November 2013, enjoying an increase of 90 and 56% in volume and value respectively.

Small Cardamom, popularily known as ‘The Queen of Spices‘, with exports of 1805 tones  valued at Rs. 144.35 crore, showed strong signs of returning,  by marking an increase of 38 and 36% respectively in volume and value of exports.  Fennel showed great promise with exports of 13,100 tones  in volume, valued at Rs 116.40 crore, marking an increase of 60 and 88% in volume and value respectively, over April- November 2012.

The future of spice trade looks promising and secure with the current trend that has surpassed the export figures for the corresponding period in the previous year. Spices such as pepper, small cardamom, chilli, turmeric, coriander, cumin, fennel, fenugreek, celery, garlic, nutmeg and mace, other seed spices  have registered an upsurge in both volume and value, he added.  Spice oils & oleoresins as well as curry powders and pastes are also following a similar drift. However, ginger has shown a hike only in value and Large Cardamom has shown a drop in both value and volume.