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Despite very small growth in volumes, Indian spices exports have been able to record strident gains in value realisation.
The country's spices export volumes moved up by 1 per cent to 4,36,175 tonnes (4,32,115 tonnes) while rupee realisation grew 47 per cent to Rs 7,849 crore (Rs 5,354 crore). Dollar earnings moved up 40 per cent to $1,647 million.
What is noteworthy, the Spices Board said, is that while 90 per cent of country's spices production continues to be consumed domestically, India remains a major exporter in international markets, meeting almost 50 per cent of global demand.
Indian spice exports have already exceeded the target set for the current fiscal in terms of value. The rapid growth in unit value across several spices was the principal driver for the good performance. There was strident growth in the export unit value of mint and mint products, nutmeg and mace, spice oils and oleoresins, ginger, chilly and coriander. Meanwhile, the unit value of small cardamom fell.
Backing the overall growth in value, items such as chilly, spice oils and oleoresins, fennel, coriander and mint products showed a growth in terms of value only. Meanwhile other spices like pepper, cardamom, ginger, turmeric, cumin celery, fenugreek, nutmeg and mace, tamarind, and value added products such as curry powder and paste showed an increase in volume and value.
Cardamom exports
India, a key player in cardamom exports, marked an all-time record in spite of a fall in price of small cardamom. The country exported 3,900 tonnes of small cardamom valued at Rs 308 crore. Despite the fall in unit value realisation, small cardamom exports were able to record gains in volume and value.
April 2011- December 2012 was the peak period for export of nutmeg and mace from India. The export of nutmeg and mace achieved a substantial growth of 112 per cent in quantity and 212 per cent in value. The quantity of nutmeg and mace exported during the period is 3,100 tonnes valued at Rs 204 crore.
Turmeric
The export of turmeric showed an increase of 69 per cent in quantity and 14 per cent in value. During April 2011- January 2012, the export of turmeric reached 67,000 tonnes valued at Rs 643 crore.
Export of value added spice products also showed an uptrend. Spice oils and oleoresins exports showed a decline of 11 per cent in quantity even as value realisation increased by 39 per cent. In the case of mint products, the increase in value was 44 per cent. India exported 13,950 tonnes of curry powder/paste valued Rs 202 crore.
India was able to surpass the target in terms of rupee realisation and foreign exchange earnings as far as spice export was concerned – achieving 121 per cent of the rupee target and 114 per cent of the foreign exchange target. It was able to achieve 87 per cent of the targeted volume of spices exports so far.
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