Rising global demand pushes up spice exports

Export of all major spices like pepper, chilli, ginger, turmeric, seed spices and value added products has marked an outstanding growth

The export volume during April-July makes up for 36 per cent of the total export target of FY15 - 755,000 tonnes worth Rs 12,305 crore

Clearly showing a rising demand for Indian spices in global markets, India exported 271,280 tonnes of spices and spice products during April-July, a 10 per cent increase compared with 246,060 tonnes in the year-ago period, according to Spices Board data. The exports during the four-month period in 2014 and 2013 were worth Rs 4,339 crore ($721 million) and Rs 3,893 crore ($683 million), respectively, showing a 11 per cent growth in rupee terms and six per cent in dollar terms.

During April-July, exports of all major spices including pepper, chilli, ginger, turmeric, seed spices and value-added products have marked an outstanding growth, both in terms of value and quantity.

Notably, the exports volume during the four-month period makes up for 36 per cent of the total export target of FY15 - 755,000 tonnes worth Rs 12,305 crore ($2,000 million). In value terms, this translates into 35 per cent in rupee and 36 per cent in dollar.

Releasing the data for the April-July period, Spices Board chairman A Jayathilak said the promising export figures point to a rising demand for Indian spices in global markets. “We look forward to an all-time high export record for the financial year with prominence to value-added products in the export basket,” he said.

Chilli and mint continued to be the largest foreign exchange earners in the export basket. Pepper exports rose to 6,450 tonnes worth Rs 332 crore from 5,870 tonnes valued at Rs 235 crore last year. Overcoming its slowdown trends in the previous years, ginger marked an increase of 47 per cent in volume and 23 per cent in value with a total of 6,150 tonnes of ginger valued at Rs 66 crore being exported against the 4,194 tonnes worth Rs 54 crore last year.

Chilli, the most-sought after spice from India, registered an increase of six per cent in quantity and 10 per cent in value. A total quantity of 99,000 tonnes of chilli worth Rs 94 crore was exported during April-July against 93,122 tonnes valued at Rs 851 crore in the corresponding period of the previous year.

The seed spices basket had a dream run during the period with coriander, cumin, and fennel manifesting high performance.

During April-July 2014, a total quantity of, 16,000 tonnes of coriander valued at Rs 155 crore were exported against 11,412 tonnes, valued at Rs 86 crore last year. It marks an increase of 40 per cent in quantity and 79 per cent in value.

While cumin achieved an increase of 32 per cent in quantity and 14 per cent in value, fennel bagged a rise of 19 per cent in value terms. A total of 58,000 tonnes of cumin valued at Rs 672 crore were exported, compared with 43,898 tonnes worth Rs 589 crore in the previous year. About 4,500 tonnes of fennel valued at Rs 47 crore were exported against 4,447 tonnes worth Rs 40 crore.

During the period under review, a total quantity of 3,975 tonnes of spice oils and oleoresins (value-added spice extracts) valued at Rs 544 crore were exported against 3,273 tonnes worth Rs 488 crore in the previous year, registering an increase of 21 per cent in quantity and 11 per cent in value. In the case of value-added products, 7,050 tonnes of curry powder/paste valued at Rs 133 crore were exported against 6,190 tonnes worth Rs 99 crore last year. The figures show an increase of 14 per cent in quantity and 34 per cent in value.

Notably, the export of cardamom (small) and cardamom (large) showed an increase only in terms of value.