Even as the volume of spices exports fell by 26 per cent during the first quarter of the current fiscal, foreign exchange realisations inched up by 21 per cent during the period. The fall in volume was due mainly to an over 30 per cent drop in the quantum of chilli exports, which account for almost one-third of spices export basket.

While some items in the spices export basket have been showing rapid growth in volume and value, declines were witnessed in the export performance of some others, trade sources said. A strong price rally was seen in the case of pepper, ginger, nutmeg and nut mace, mint and mint products, spice oils and oleoresins in the international markets.

In fact, the total realisation from pepper exports almost doubled during April-June 2011 against the corresponding period a year ago. The rally in pepper prices was long overdue since they have been languishing for the past several years, some growers said.

While there was a marked uptrend in the price of ginger during the quarter, a sharp fall was witnessed in the price of small cardamom. The sharp increase in value realisation from spice oils, oleoresins and mint products, which together account for over 30 per cent of the total value of spice exports, have helped buttress the fall in other individual spices.

A total of 1,16,900 tonnes of spices and spice products valued at Rs 1,885.24 crore ($421.55 million) was exported during the first three months of the current fiscal as against 1,57,850 tonnes valued at Rs 1,560.47 crore ($342.28 million) reported last year.

The spike in value realisation was achieved mainly by mint and mint products as well as spice oils and oleoresins. The unit value realisation in the case of mint and mint products almost doubled to Rs 1,180 a kg (Rs 688 a kg), while it increased by almost 50 per cent in the case of spice oils and oleoresins to Rs 1,653 (Rs 1,117).

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