Despite the continuance of global recession and economic slump in the overseas markets, India’s spices exports have crossed the Rs 10,000-crore mark.
About 6,99,170 tonnes of spices and spice products valued at Rs 11,171.16 crore ($2,040.18 million) have been exported in FY’13 against 5,75,270 tonnes valued at Rs 9,783.42 crore ($2,037.76 million) in FY’12.
It is for the first time that the growth in volume of exports registered an all-time high of 22 per cent and 14 per cent in value. Total exports have exceeded the target in terms of both quantity and value.
Compared to the target of 5,66,000 tonnes valued at Rs 8,203.50 crore ($1,650 million) for FY’13, the achievement is 124 per cent in terms of quantity and 136 per cent in rupee and 124 per cent in dollar terms of value.
Trade pattern
As the exports of cumin, mint and chillies show a sharp improvement during 2012-13, the pattern of trade is showing perceptible changes. New spices are gaining prominence in the export basket, A Jayathilak, Chairman of Spices Board, said.
Mint products, cardamom (large), chilli, coriander, cumin, fennel, fenugreek, celery, other seeds like mustard, aniseed, ajwanseed, nutmeg and mace, garlic, asafoetida, tamarind, curry powders/pastes, oils and oleoresins etc. are the star performers recording rise in exports both in terms of volume and value.
Spices like pepper, cardamom (small) and ginger had shown decrease both in terms of volume and value as compared to last year.
Export of seed spices witnessed a phenomenal growth of 55 per cent in terms of quantity and 62 per cent in terms of value. About 1,86,075 tonnes of seed spices valued at at Rs 1,672.99 crore were exported last fiscal.