Financial Daily from THE HINDU group of publications
Tuesday, Feb 01, 2005
Financial Daily from THE HINDU group of publications Tuesday, Feb 01, 2005 |
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Agri-Biz & Commodities
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Spices & Condiments Industry & Economy - Exports & Imports Airfreight sops for cardamom exports extended G.K. Nair
Kochi , Jan. 31 THE Spices Board has extended the airfreight assistance of Rs 45 a kg for cardamom exports to the West Asian countries up to February 28. The Board, in a bid to boost exports of cardamom and a consequent increase in prices, had introduced the assistance from October 16 last. "In view of the positive response received and since market conditions are favourable, the trade has suggested that the airfreight assistance from the Cardamom Development Fund may be extended up to February 28, as it would help to increase cardamom exports during this period," Mr S. Kannan, Director (Marketing), Spices Board told Business Line. He said the trustees had approved the extension of the assistance. According to Mr Kannan, export of this commodity in January and February is estimated to cross 100 tonnes. Meanwhile, exports during April-December 2004 stood at 375 tonnes, valued at Rs 14.46 crore, as against 490 tonnes, worth Rs 24.12 crore, in the corresponding period last year. The unit value this year was Rs 385.60 a kg compared with Rs 492.24 a kg in April-December 2003. He expressed the hope that the export of this commodity would cross the target of 700 tonnes for the current fiscal.
The highest ever export was in 1985-86 with 3,272 tonnes. However, after 1986-87, it had dropped to less than 1,000 tonnes annually, probably because of the entry of Guatemala in the traditional markets of Indian cardamom i.e., the West Asian markets. Though qualitatively the Indian produce enjoyed an upper hand in terms of price it has not been competitive with the commodity of other origins. The airfreight assistance has been introduced so as to make the Indian competitive in the overseas market, Mr Kannan added.
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