Spices exports surge 30% to nearly Rs 4,000 cr in Q1

Spices exports from the country clocked an impressive 30 per cent increase in rupee terms at Rs 3,976.65 crore during the first quarter of 2015-16.
Spices exports stood at Rs 3,059.74 crore (USD 511.22 million) during the corresponding period last year, Spices Board said today.
The country also achieved 28 per cent of the export target of Rs 14,014 crore for the whole year in the first quarter.
Garlic, pepper, small cardamom, fenugreek, nutmeg, fennel and spice oils and oleoresins contributed substantially to the spice export basket during April-June period, the board said in a release here.
In volume terms, during the first quarter of financial year, a total of 2,15,215 tonnes was exported compared with 2,13,443 tonnes in the corresponding period last year.

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

Exports of pepper, known as the 'King of Spices', topped the list netting Rs 635.90 crore in Q1, marking an increase of 201 per cent as against in the first quarter of 2014-15.
In terms of volume, pepper recorded a growth of 148 per cent to reach 10,750 tonnes in April-June compared with last year.
Around 3,725 tonnes of spice oils and oleoresins worth Rs 564.65 crore were exported during April-June, an increase of 24 per cent in terms of volume and 40 per cent in terms of value from the same period last year.

Mint products (mint oils, menthol and menthol crystals) earned foreign exchange worth Rs 455 crore through exports of 4,250 tonnes. The cumin with exports accounted to about Rs 430.8 crore during the first quarter.
Turmeric made remarkable strides in export earnings by fetching Rs 238.4 crore through shipment of 24,500 tonnes during the period.
Fenugreek export reached a height of Rs 6,594 crore for a volume of 10,500 tonnes as compared to Rs 27.26 crore for 5,922 tonnes of the first quarter of FY 2014-15, registering an increase of 142 per cent in terms of value.