Spices export touches $1 bn

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Indian spices export for the last fiscal have created a record by crossing the $ 1 billion mark, sources at the state-run Spices Board said. The provisional data puts the volume above 4,20,000 tonne and the rupee revenue around Rs 4,200-4,300 crore.

Exports for 2006-07 stood at 3,73,350 tonne valued at Rs 3,575.75 crore ($ 792.95 million). Exports have also beaten the target fixed by the board for the last fiscal by huge margins. The targets fixed by the board for the 2007-08 was 3,80,000 tonne valued at Rs 3,600 crore. The final export figures are only expected next month, source said. During the period April-February 2007-08, 3,77,000 tonne of spices and spice products valued at Rs 3,785.40 crore (US $940.47 Million) were exported from the nation.

Export of pepper, chilli, curry powder and mint products have exceeded the targets in terms of both volume and value. Export of coriander and cumin has exceeded the target in value terms and vanilla in volume terms. Performance of cardamom, ginger, turmeric, cumin, celery, garlic, nutmeg and mace fell short of last year’s achievement.

Sources add that chilli export for the last fiscal could be higher than 2,00,000 tonne and rupee revenue above Rs 1,000 crore. During April-February of the last fiscal, chilli exports stood at 1,69,000 tonne valued at Rs 906.44 crore.