The Hindu Business Line : Lower export target fixed for vanilla

Coonoor, Aug 1 Spices Board has fixed a lower target for the export of vanilla in the current fiscal, compared to the actual achievement in the last fiscal.

During 2007-08, India exported 200 tonnes of vanilla and earned Rs 17.75 crore, but the Board has fixed the target for 2008-09 at an export of 150 tonnes valued at Rs 15 crore.

For last year also, the Board’s target was 150 tonnes, but the achievement exceeded it, accounting for as much as 133 per cent of the target. The targeted earnings were Rs 26.25 crore, but the actuals were only 68 per cent of this. So, the Board’s value target for the current fiscal is conservative to factor in the price decline.

Last fiscal, average price dropped to Rs 887.50 a kg from Rs 1,596.40 in 2006-07. In 2006-07, despite the export volume remaining lower at 125 tonnes, the overall earnings were higher at Rs 19.95 crore because of the high unit value realisation.

Average prices rise

Prospects for the current fiscal are bright with the prices rising by over Rs 200 a kg. In the first two months of the current fiscal, vanilla exports have posted significant increase over the corresponding period of last fiscal. Despite the average price rising to Rs 1063.64 a kg from Rs 830.04, a higher volume of 55 tonnes was exported against 45 tonnes last fiscal.

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Lower export target fixed for vanilla