The Hindu Business Line : New Delhi to host meet on medicinal plants

HERBAL products will be among the fastest-growing categories in the coming years, and exploring this will be an international conference on livelihoods and trade options in medicinal plants and herbal products to be held in the Capital later this week.

According to a World Health Organisation estimate, the present demand for medicinal plants is about $14 billion a year and is likely to grow to $5 trillion by 2050. Medicinal plant-related trade in India is estimated to be around Rs 550 crore per year.

While the value of global trade in medicinal plants has been put at over $60 billion per year, of which India's total turnover of Rs 2,300 crore ($551 million) of ayurvedic and herbal products and major over-the-counter (OTC) products contribute around Rs 1,200 crore, other formulations fetch around Rs 650 crore while the classical ayurvedic formulations contribute the remaining Rs 450 crore.

The demand for medicinal plant-based raw materials is growing at 15-25 per cent internationally, it said.

The conference, organised by Oxfam, a non-governmental organisation, will have participants from industry, Government, research and development organisations and others. Companies such as Dabur, Zandu, Hamdard are expected to be present.

The meeting will address issues related to the inability of Indian organisations to hit the mainstream and create a viable local and international market for traditional health products, whose dynamics in international trade are largely tilted in favour of the developed world.

Mr Biranchi Upadhyaya, Country Representative of Oxfam GB in India and Chairperson of the Executive Committee said, "While there are over 250 delegates registered for participation, we are expecting foreign buyers and representatives of international herbal companies as delegates for the conference, who would share their experiences and explore business opportunities. The major focus of the conference would be to bridge the market information gaps and build a collaborative framework for organised attention to various aspects of this sector."

More Stories on : Alternative Medicines | Health

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
`Time to tap potential of commodity futures'

NCDEX plans futures trading in 5 more commodities by month-end

Cauvery farmers look to alternative cropping systems

Rubber unchanged on dull trading

Subsidy for rubber exports may continue

Exporters help sustain Coonoor tea auction

Tea break

Milk production up in Perambalur dt.

Tobacco auctions disrupted in AP

Govt defends move to declare NDDB as PFI

`Strengthen framework for commodity futures'

New Delhi to host meet on medicinal plants

Agriculture almanac from ANGRAU