![]() Financial Daily from THE HINDU group of publications Tuesday, Aug 02, 2005 |
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Agri-Biz & Commodities
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Spices & Condiments Industry & Economy - Exports & Imports Q1 spice exports drop by Rs 62 crore G.K. Nair
Kochi , Aug 1 A SHARP fall in shipments of spices such as chilli, coriander and cumin has pushed down exports by Rs 62.66 crore during April -June this fiscal.. Total exports during the first quarter of the current fiscal stood at 90,278 tonnes valued at Rs 538.23 crore as against 1,01,337 tonnes worth Rs 600.89 crore in the same period last year. Exports of chilli, coriander, cumin, celery, fennel, fenugreek, vanilla, and other seeds and mint products declined, while turmeric, ginger, garlic, nutmeg and mace, and value-added spices exports rose. Turmeric and garlic exports showed a substantial increase during the quarter. India's major competitor in the world chilli market, China has reported better production during April - May, while its October - January production is also said to be better than last year. Therefore major buyers Sri Lanka, Malaysia, Bangladesh, US and the UAE expect prices to fall further following the next chilli harvest in China. This has contributed to the drop in exports of chilli. Similarly, other spices that had shown good export performance last fiscal, faced competition from other countries boasting good production this year, Mr S. Kannan, Director, Marketing, Spices Board told Business Line. Their production in India was expected to maintain last year's levels, he said. Turmeric exports, over which India continued to maintain a monopoly, stood at 14,500 tonnes in April-June 2005 as against 11,963 tonnes in the same period last fiscal, he said. Poor garlic crop in other growing countries had pushed up exports to 5,050 tonnes from 260 tonnes in April - June 2004. It has already crossed the 3,000-tonnes target for the current fiscal. Exports of spice oils and oleoresins continued to grow, touching 1,425 tonnes valued at Rs 117.09 crore. However, there has been a drop in the unit value of this product. Curry powder/paste/condiments has moved up marginally while the export of mint products continued to decline this year also.
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