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Rise in demand for Indian spices in global markets

September 25, 2014: Highlighting the trend of increasing demand of Indian spices in global markets, exports of spices and spice products registered a growth of 10 per cent during April-July 2014 as compared to the year-ago period.271,280 tonnes of spices and spice products were exported during the period against 246,060 tonnes in the year-ago period, according to Spices Board data.

Outstanding growth was registered for all major spices including pepper, chilli, ginger, turmeric, seed spices and value-added products during April-July 2014. Interestingly, the exports volume during the four-month period made up for 36 per cent of the total export target of FY15 - 755,000 tonnes worth Rs 12,305 crore ($2,000 million).

Spices Board chairman, A Jayathilak, while releasing the data stated, “We look forward to an all-time high export record for the financial year with prominence to value-added products in the export basket”.

Chilli and mint were the largest foreign exchange earners in the export basket. Exports of chillies were to the tune of 99,000 tonnes worth Rs 94 crore during April-July 2014 against 93,122 tonnes valued at Rs 851 crore in the corresponding period of the previous year. Pepper exports reached 6,450 tonnes worth Rs 332 crore from 5,870 tonnes valued at Rs 235 crore last year. Ginger registered an increase of 47 per cent in volume and 23 per cent in value with a total of 6,150 tonnes of ginger valued at Rs 66 crore being exported against the 4,194 tonnes worth Rs 54 crore last year.

The seed spices basket had a dream run during the period under consideration with coriander, cumin, and fennel showing great performance in exports. During the period of April-July 2014, a total quantity of, 16,000 tonnes of coriander valued at Rs 155 crore were exported against 11,412 tonnes, valued at Rs 86 crore last year. It marks an increase of 40 per cent in quantity and 79 per cent in value. While cumin achieved an increase of 32 per cent in quantity and 14 per cent in value, fennel registered a rise of 19 per cent in value terms. 58,000 tonnes of cumin valued at Rs 672 crore were exported, compared with 43,898 tonnes worth Rs 589 crore in the previous year. About 4,500 tonnes of fennel valued at Rs 47 crore were exported against 4,447 tonnes worth Rs 40 crore.

A total quantity of 3,975 tonnes of spice oils and oleoresins (value-added spice extracts) valued at Rs 544 crore were exported as compared to 3,273 tonnes worth Rs 488 crore in the previous year, registering an increase of 21 per cent in quantity and 11 per cent in value. In the case of value-added products, 7,050 tonnes of curry powder/paste valued at Rs 133 crore were exported in comparison to 6,190 tonnes worth Rs 99 crore last year. The figures show an increase of 14 per cent in quantity and 34 per cent in value.The export of cardamom (small) and cardamom (large) registered an increase only in terms of value.

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