Spices exports fall 23% in April-August

Spice exports fell 23 per cent during the April-August period, as chilli demand from China declined drastically. Chilli is one of the major spices in the export basket.

Overall exports stood at 195,500 tonnes, compared to 255,100 tonnes in the same period last year. In terms of value, spices exports surged 26 per cent to Rs 3,365.20 crore. In dollar terms, exports rose 29 per cent to $751 million compared to $581 million last year. Chilli exports dipped 39 per cent to 68,000 tonnes in the last five months, but in value they lost three per cent.

“Chilli exports have seen a drastic fall this year . Last year, major export demand for the spice came in from China,” said Fiyaz Hudani, senior research analyst, Kotak Commodity Services.

Coriander exports also fell 47 per cent to 12,750 tonnes. This also played a role in bringing down the overall exports, analysts said. Cumin (jeera) exports also saw a decline of 39 per cent to 9,500 tonnes, while in terms of value they fell 28 per cent during April-August. On the other hand, small cardamom exports increased 517 per cent to 1,450 tonnes, while large cardamom exports were up by 153 per cent to 240 tonnes.

Pepper exports were also up by 12 per cent to 8,750 tonnes, compared to 7,800 tonnes in the same period last year. In terms of value, they were up 74 per cent. “Pepper has seen good export demand as availability on the international market is limited,” said Fiyaz Hudani. Turmeric exports from April till August were up 52 per cent in terms of quantity, to 36,500 tonnes. “Turmeric prices have softened by 75 per cent in the last one year, due to which exports were up,” said an exporter.