Spice exports up on increased global demand

India's exports of spices during April-July 2014 have shown a prospective trend, registering a 10 percent increase in quantity and 11 percent in rupee terms, a Spices Board official said Wednesday.

Releasing the export performance, Spices Board chairman A. Jayathilak said the promising export figures for the period points to an increased demand for Indian spices in the global market.

"We look forward to an all-time high export record for the current financial year with prominence to value-added products in the export basket," he said.

Chilly and mint continued to be the largest foreign exchange earners in the export basket.

A total of 271,280 tonnes of spices and spice products valued Rs.4339.00 crore ($721.02 million) was exported from the country during April-July this year against 246,060 tonnes valued Rs.3892.72 crore ($682.79 million) during the same period last year.

Pepper, the king of spices, has regained its demand with a 10 percent rise in quantity and 41 percent in value. A total quantity of 6,450 tonnes of pepper valued Rs.332.46 crore was exported as against 5,870 tonnes valued Rs.235.31 crore last year.

Chillies, the most demanded spice from India, registered an increase of six percent in quantity and 10 percent in value.

A total quantity of 99,000 tonnes of chilli valued at Rs.938.80 crore were exported as against 93,122 tonnes valued at Rs.850.81 crore in the corresponding period of the previous year.

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

A total quantity of 16,000 tonnes of coriander valued at Rs.155.05 crore were exported as against 11,412 tonnes valued at Rs.86.40 crore of 2013.

Compared to the export target of 755,000 tonnes valued at Rs.12,304.90 crore ($2,000 million) for the financial year 2014-15, achievement for April-July 2014 was 271,280 tonnes valued at Rs.4,339.00 crore ($721.02 million) -- which is 36 percent in terms of quantity, 35 percent in rupee and 36 percent in dollar terms of value.

Spices Board is the nodal organisation under the ministry of commerce and industry that helps in the development and worldwide promotion of Indian spices.