Spices exports touch ₹14,900 cr in FY15

V Sajeev Kumar | | Updated on: Mar 12, 2018

spices

Indian spices exports touched ₹14,899.68 crore in FY15 against ₹13,735.39 crore in the previous fiscal on the back of robust global demand.

Chilli, mint and mint products, cumin, spice oils and oleoresins, pepper, turmeric, coriander, small cardamom, curry powder/paste and fenugreek contributed substantially to the spice export basket, as the demand scaled up phenomenally at the global level.

A total of 8,93,920 tonnes of spices and spice products valued at ₹14,899.68 crore ($2,432.85 million) were exported, registering a 9 per cent increase in volume and 8 per cent in rupee terms and 7 per cent in dollar terms in value against 8,17,250 tonnes in FY14.

The export figure also exceeded the target of 7,55,000 tonnes.

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

Chilli continued to maintain the lead in the export basket, accounting for 347,000 tonnes in quantity and ₹3,517 crore in value.

Mint and mint products also earned substantial foreign exchange worth ₹2689 crore through exports of 25,750 tonnes.

In terms of volume, chilli was followed by cumin with an export quantity of 1,55,500 tonnes earning a foreign exchange worth ₹1,838 crore.

Pepper contributed significantly to export earnings by bringing home ₹1208 crore with a corresponding export volume of 21,450 tonnes.

Value-added products Value-added spice products such as spice oils and oleoresins notched a significant high with figures of 11,475 tonnes and ₹1,910 crore.

Turmeric too continued to make great strides with an export volume of 86,000 tonnes, which translated into an earning of ₹744.35 crore.

Coriander was another major spice with a huge demand in foreign markets.

By exporting 46,000 tonnes, it fetched ₹498 crore while curry powder/paste contributed to the exchequer with a tidy amount of ₹476 crore through export of 24,650 tonnes. “Indian spices are not only lucrative products for the national exchequer but have also become a trusted global brand. The challenge for us is to give a huge impetus to their exports and sustain their quality and flavour”, Jayathilak said.

Trusted brand Small cardamom, stood at 3,795 tonnes that earned a foreign exchange pegged at ₹498 crore.

However, large cardamom’s export value surged substantially to ₹84.03 crore compared to ₹79.61 crore.

Ginger, nutmeg and mace, fennel, fenugreek, garlic, celery and other seed spices (mustard, aniseed, bishops weed, dillseed, etc) also chipped in significantly in bolstering exports.

Published on June 15, 2015
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