India targeting spices exports of $2.3 bn in FY14

With global demand for spices and spices products rising, India is targeting exports of $2.3 billion in 2013-14 fiscal even as Rs 9,433 crore worth spices were shipped during April-December last year.

The total volume of spices and spices products exported in the nine month period of April-December 2013 was 5,71,680 tonnes, valued at Rs 9,433 crore, a 41 per cent growth in rupee terms and 27 per cent both in volume and Dollar terms.

During the same period of previous fiscal, as much as 4,49,926 tonnes valued at Rs 6,696 crore ($1232 million) was exported, Spices Board chairman A Jayathilak told reporters here last night. For 2014-15 fiscal also the board was targeting spices exports of $2.3 billion, he said.

With Organic spices accounting for only less than 2 per cent in the export basket, the Board would give thrust in this regard, especially in the North eastern region, he said, adding it has vast potential.