Economy

Spices export mints more value on global demand

Our Bureau Kochi | Updated on January 28, 2014 Published on January 28, 2014

spices

Value-added products rise 129% in mint; spices export up 28%

Spices export increased 28 per cent during April-November of the current fiscal.

In terms of value, shipments increased 46 per cent in rupee terms and 32 per cent in dollar compared with the same period a year ago.

Higher demand for Indian spices in the international market is a testimony to their nonpareil quality and escalating faith in their sustainability, said A Jayathilak, Chairman, Spices Board.

With the current trend in exports, Jayathilak said that prospects for spices trade look promising especially spices such as pepper, small cardamom, chilli, turmeric, coriander, cumin, fennel, fenugreek, celery, garlic, nutmeg and mace, other seed spices which have registered an upsurge in volume and value.

Export earnings were ₹8,377.20 crore from 5,08,555 tonnes shipped during the period.

During the same period a year ago, 3,98,000 tonnes were exported fetching ₹5,732.25 crore.

Mint value-added products such as oil, menthol and its crystals increased 129 per cent in volume and 62 per cent in value. Some 15,850 tonnes valued at ₹1,975.17 crore were shipped out. During the year-ago period, they were 6,916 tonnes fetching ₹1,222.99 crore.

A total of 1,81,500 tonnes of chilli was exported at a value of ₹1,614.17 crore (174,798 tonnes at ₹1,408.68 crore).

Pepper and turmeric rose by 42 and 41 per cent respectively in value with 13,700 tonnes and 50,500 tonnes, respectively, being shipped.

Exports of pepper and turmeric were valued at ₹572.26 crore and ₹408.28 crore, respectively.

Value-added spice products such as spice oils and oleoresins and curry powders and pastes fetched ₹1,110.84 crore and ₹230.19 crore respectively.

About 86,500 tonnes of cumin were exported at ₹1,150.56 crore, while coriander earned ₹235.57 crore.

A total of 3,350 tonnes of nutmeg and mace, valued at ₹198.12 crore were shipped out.

Small cardamom exports were 1,805 tonnes valued at ₹144.35 crore.

Published on January 28, 2014
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