The value of spice exports rose 9 per cent by value in fiscal year 2015-16, over the previous year, despite a 6 per cent decline in quantity.

The increase in value is attributed to favourable currency exchange rates, Spices Board sources told BusinessLine.

The exchange rate average in 2015-16 was at around ₹67 a dollar against around ₹64 a dollar in 2014-15, they said, adding this has reflected on the unit value and the total value realisation.

Total shipments last financial year stood at 8,43,255 tonnes, valued at ₹16,238.23 crore, against 8,93,920 tonnes valued at ₹14,899.68 crore in fiscal year 2014-15.

However, exports have surpassed the set target for the last fiscal year by 104 per cent in quantity and 116 per cent in value, they said.

Top 5 contributors

Shipments of chilli remained by and large unchanged in volume, but in terms of value it gained by 12 per cent.

A substantial increase in value is said to have brought down the export of mint products to 21,150 tones valued at ₹2,577.59 crore from 25,750 tonnes valued at ₹2,689.25 crore. The unit value rose to ₹1,218.72 a kg last fiscal year from ₹1,044.37 in 2014-15.

The top five export earners are chilli, mint products, spice oil and oleoresins, pepper and cumin.

Black pepper exports up

Meanwhile, export of black pepper showed a significant increase both in terms of quantity and value. Shipments last fiscal stood at 28,100 tonnes valued at ₹1,730.41 crore against 21,450 tonnes valued at ₹1,208.42 crore.

The unit value realised in 2015-16 was at ₹615.81/kg against last year’s ₹563.37.

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