Spices exports touch ₹14,900 cr in FY15

Indian spices maintained their robust demand in the international market with exports exceeding the target by touching ₹14,899.68 crore in FY15 against ₹13,735.39 crore in the previous fiscal.

Chilli, mint and mint products, cumin, spice oils and oleoresins, pepper, turmeric, coriander, small cardamom, curry powder/paste and fenugreek contributed substantially to the spices export basket, as the demand scaled up phenomenally at the global level.

About 8,93,920 tonnes of spices and spice products valued at ₹14,899.68 crore ($2,432.85 million) were exported, registering a 9 per cent increase in volume and 8 per cent in rupee terms and 7 per cent in dollar terms in value against 8,17,250 tonnes in FY14. The export figure also exceeded the target of 7,55,000 tonnes.

The achievement is substantial and it was achieved in the face of tough competition. Increased demand for Indian spices in the international market is a testimony to their unmatched quality and escalating faith in their sustainability, A Jayathilak, Chairman, Spices Board, said.

Chilli continued to maintain the leading position in the export basket, accounting for 347,000 tonnes in quantity and ₹3,51,710 lakh in value. Mint and mint products also earned substantial foreign exchange worth ₹2,68,925 lakh through exports of 25,750 tonnes.

In terms of volume, chilli was followed by cumin with an export quantity of 1,55,500 tonnes earning a foreign exchange worth ₹1,83,820 lakh.

Pepper contributed significantly to export earnings by bringing home ₹1,20,842 lakh with a corresponding export volume of 21,450 tonnes.

Value-added spice products like spice oils and oleoresins notched a significant high with figures of 11,475 tonnes and ₹1,91,090 lakh. Turmeric too continued to make great strides with an export volume of 86,000 tonnes, which translated into an earning of ₹74,435 lakh.

Coriander was another major spice with a huge demand in foreign markets. By exporting 46,000 tonnes, it fetched ₹49,812.50 lakh, while curry powder/paste contributed to the exchequer with a tidy amount of ₹ 47,626 lakh through export of 24,650 tonnes.

“Indian spices are not only lucrative products for the national exchequer but have also become a trusted global brand. The challenge for us is to give a huge impetus to their exports and sustain their quality and flavor”, Jayathilak said.

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Spices export cross $2 bn in 2011-12 fiscal

India’s spices exports rose by 36 per cent to $2.04 billion in value terms in 2011-12 fiscal on account of increase in value realisation of spices, especially chilli and pepper.

In the previous fiscal, the country had earned foreign exchange of $1.5 billion from spices exports, according to the latest data released by the Spices Board of India.

The volume of shipments in the last fiscal rose by almost 10 per cent to 5.75 lakh tonnes from 5.25 lakh tonnes in the 2010-11 financial year.

The earnings from export of spices in rupee terms rose by 43 per cent to Rs 9,783.42 crore in 2011-12 fiscal as against Rs 6,840.70 crore in the year-ago period.

The Spices Board had set a target of earning forex revenue of Rs 6,500 crore ($1.45 billion) with a volume of 5 lakh tonnes in the last fiscal from export of spices.

Spices export earnings rose mainly on the back of increased realisation from mint products, chilli, pepper and spice oils & oleoresins.

The export value of mint products rose by 31 per cent to Rs 2,223.72 crore in 2011-12 fiscal from Rs 1,696.79 crore in the 2010-11 fiscal, despite a decline of 15 per cent in its volume to 14,750 tonnes from 17,450 tonnes in the same period.

The unit value of mint produced rose to Rs 1,507.61 per kg last fiscal from Rs 972 per kg in 2010-11 fiscal.

In the case of chilli, export earnings rose by 40 per cent to Rs 2,144.08 crore last fiscal from Rs 1,535.54 crore in the year-ago period. There was a marginal increase in the volumes to 2.41 lakh tonnes from 2.40 lakh tonnes in the reviewed period.

Similarly, unit value of chilli increased to Rs 88.97 per kg as 2011-12 against Rs 63.98 per kg in 2010-11.

The earnings from export of spice oils & oleoresins rose by 43 per cent to Rs 1,304.38 crore in 2011-12 compared to Rs 910.62 crore in 2010-11, while volumes declined by 4 per cent to 7,265 tonnes from 7,600 tonnes in the same period.

The unit value of spice oils & oleoresins, used in food and cosmetics, rose to Rs 1,795.43 per kg in 2011-12 from Rs 1,198.19 per kg in 2010-11.

Pepper export earnings rose by a whopping 129 per cent to Rs 878.13 crore in the last fiscal from Rs 383.18 crore in the year-ago period, while volume of shipments rose by 42 per cent to 26,700 tonnes from 18,850 tonnes in the same period.

The unit value of pepper rose to Rs 328.89 per kg in 2011-12 as against Rs 203.28 per kg in 2010-11.

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