India's spice exports up 30 percent in Q1

Spice exports from India grew 30 percent in value terms to touch Rs. 3,976.65 crore ($626.81 million) during the first quarter of 2015-16 as compared to Rs 3,059.74 crore ($511.22 million) in the corresponding period of 2014-15, an official said on Tuesday.

Through this, the exports so far have achieved 28 percent of the total export target of Rs. 14,014 crore ($2,260 million) set for 2015-16.

Garlic, pepper, small cardamom, fenugreek, nutmeg, fennel, spice oils and oleoresins contributed substantially to the spice export basket during April-June period.

"The substantial increase in exports in Q1 is the result of market promotion activities by Spices Board to promote Indian spices globally," said its chairman A.Jayathilak.

Exports of pepper, known as the "King of Spices", stood at.Rs 635.9 crore in Q1, marking an increase of 201 percent compared to the first quarter of 2014-15.

In terms of volume, pepper recorded a growth of 148 percent in April-June 2015-16 compared to the corresponding period last year to reach 10,750 tonnes.

Around 3,725 tonnes of spice oils and oleoresins worth Rs 564.65 crore were exported during April-June this financial year, recording an increase of 24 percent in terms of volume and 40 percent in terms of value from the same period last year.