The Hindu Business Line : Govt to tap mint industry potential

New initiatives
Attractive subsidy scheme for farmers to install improved field distillation units being worked out.
Plans are afoot to set up spot electronic exchange platforms, in collaboration with MCX.

G. Srinivasan

New Delhi, Oct. 11 The Department of Commerce has asked the Spices Board to set up a 100-acre Mint Park in Uttar Pradesh to impart a thrust for value-addition in mint (pudhina/pudinhara) like it is doing for pepper and cardamom in Kerala and chillies in Andhra Pradesh.

Official sources told Business Line here the site for the Mint Park, which will have private investors, would be identified and finalised within a month or two. Out of total spice exports of Rs 3,400 crore in 2006-07, mint and mint products were Rs 1,100 crore or 30 per cent.

Even as it holds the premier position in the spices export basket, it has so far been neglected as the Kochi-based Spices Board was largely focused on pepper and cardamom. Mint finds use in pharmaceutical, nutracentical, culinary and chemical industries.

The sources said the bulk of mint cultivated in the country is Japanese mint from which menthol or mentha oil is extracted and there is untapped potential for cultivating other mint varieties such as spearmint and peppermint.

India controls 90 per cent of international trade in menthol (mint oil) with the US, China and Germany being the main export markets. Though 80 per cent of mint cultivation is in Uttar Pradesh, it is spreading to Bihar and Haryana. Mint varieties that are grown have been developed at the Central Institute of Medicinal and Aromatic Plants (CIMAP) at Lucknow.

When contacted, the Minister of State for Commerce, Mr Jairam Ramesh, told Business Line here that he had attended the first-ever stakeholders’ interaction in Lucknow on Tuesday. He said the idea was to evolve an action plan promoting value-added exports of mint and mint products, since currently only about 15 per cent of exports remain value-added. Elaborating on the plan of the Commerce Ministry, Mr Ramesh said the Spices Board would collaborate with CIMAP and the State Government to set up testing facilities for establishing quality of mint and mint oil at Barabanki, Sambal, Chandausi, Barielly and Rampur.

Subsidy scheme

He said the Spices Board, CIMAP and the State Government would work out an attractive subsidy scheme to make it possible for farmers to install new improved field distillation units which would enable them to realise better value for their produce. He said that mint farmers would be goaded to form producer companies so that their investment in field distillation units could be facilitated.

Plans are afoot to set up spot electronic exchange platforms at the above five centres, along with warehouses in collaboration with MCX, the national commodity exchange that has introduced futures trading in menthol.

The Minister said futures trading in mentha oil would be monitored closely to ensure that farmers benefit. Officials said farmers present at the interaction testified that futures trading had enabled them to get an enhanced pricefrom Rs 300 per kg three years ago to about Rs 500 per kg now.

Mr Ramesh hoped that with a slew of initiatives the Government has announced for the mint industry, the country would hold the leadership position.

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