The Hindu Business Line : Spices exports likely to top Rs 3,000 crore

If the present trend continues during the remaining months of the current fiscal, total exports of spices are likely to touch a record Rs 3,000 crore.

Total shipments as on November 30 during the current financial year stood at 2,24,357 tonnes, valued at Rs 2,040.23 crore, as against 2,22,957 tonnes, worth Rs 1,576.27 crore, in the same period a year ago, official sources said.

Target

The target set for 2006-07 is 3,06,000 tonnes valued at Rs 2,500 crore. As the exports in terms of value during October and November were at Rs 248.84 crore and Rs 292.19 crore respectively (Rs 197.55 crore and Rs 170.08 crore), total exports might touch Rs 3,000 crore, they told Business Line.

Increase in the exports of value-added products such as curry powder/paste, mint products and spice oils and oleoresins has contributed around 43 per cent of the total forex earnings during this period.

The rise in unit value of mint products has played significant role. Its shipments during April-November increased to 9,075 tonnes, valued at Rs 587.91 crore, (8,450 tonnes worth Rs 442.05 crore). The unit value of mint products went up from Rs 523.12 a kg in April - November 2005 to Rs 647.84 a kg this year.

Shipments of curry powder/paste also increased to 6,000 tonnes valued at Rs 54.24 crore (5,553 tonnes worth Rs 46.15 crore), while that of spice oils and oleoresins was at 4,125 tonnes valued at Rs 335.53crore (4,121 tonnes valued at Rs 337.62 crore).

When there was a marginal increase in volume, in terms of value there was a slight decline due to drop in unit value realisation.

Contributors

One of the major contributors this fiscal as on November 30 was pepper export, which had gone up to 16,900 tonnes valued at Rs 165.68 crore (10,383 tonnes worth Rs 87.62 crore).

Thus, the commodity has improved its performance in terms of value and volume. The unit value had also moved up from Rs 84.39 a kg to Rs 98.04 a kg. In November alone, the shipments of pepper stood at 3,000 tonnes valued at Rs 36.90 crore with a unit value realisation of Rs 123.30 a kg (1,412 tonnes valued at Rs 11.30 crore with unit value realisation of Rs 80.02 kg). Tight supply position in the global market and competitive price India could offer because of availability of export subsidy from the Union Government contributed significantly to the increase in pepper exports, they claimed.

Another significant contributor was cumin with a record volume of 20,250 tonnes valued at Rs 151.50 crore during April-November compared with 6,026 tonnes valued at Rs 46.69 crore.

Value-added spices (curry powder, mint products and spice oils and oleoresins), cumin and black pepper together had contributed Rs 334.73 crore to the increase of Rs 463,96 crore this fiscal as on November 30, they said.

Though there had been a decline in some of the items, the increase in unit value of them had helped to raise the value realisation, they added.

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