Indian spices export peaks to a new high
KOCHI: Indian spices and spice products surged to a record export worth of Rs.17664.61 crore ($ 2633.30 million) and a volume of 9,47,790 tonnes in 2016-17.
It registered an increase of 12 per cent in volume, nine per cent in rupee terms and six per cent in dollar terms from a year ago. In 2015-16 export came to 8,43,255 tonnes valued at Rs.16238.23 crore ($ 2482.83 million).
“India has surpassed all previous export records and has fulfilled the increasing international demand for its quality spices in the face of tough competition in global markets. More satisfying was the fact that the appreciable increase in exports came in the face of strict food safety regulations that now define and determine the international commodity trade,” said Spices Board chairman Dr A. Jayathilak.
Chilli continued to be the most demanded spice in 2016-17 with export of 4,00,250 tonnes amounting to Rs 5,070.75 crores, registering an increase of 15 per cent in volume and 27 per cent in value.
Cumin was the second-most exported spice, recording an increase of 22 per cent in volume and 28 per cent in value. A total volume of 1,19,000 tonnes of cumin valued at Rs.1963.20 crore was exported from India in 2016-17. The increase was largely due to the mandatory checks on cumin and its byproducts implemented by the Spices Board in the backdrop of rapid alerts from importing countries.
Increased global demand for turmeric, especially in the pharmaceutical sector, drove its exports to attain figures of 1,16,500 tonnes in volume and crossed Rs 1,241 crores in value terms in 2016-17.
The spice which showed the maximum increase as compared to the previous financial year was fennel, registering a 129 per cent increase in volume and 79 per cent in value. Export of garlic, nutmeg and mace and celery also increased
Source: ECONOMIC TIMES