Spice exports in the first three quarters of the current fiscal are seen 41% higher in rupee realisation terms, mostly due to the robust performance of mint products, chilli and seed spices, officials of the state-run Spices Board said.
During April-December 2013, total exports stood at 571,680 tonne, valued at R9,433 crore against 449,926 tonne valued at R6,696 crore ($ 1,232 million) during April-December2012. The increase is 27%, both in volume and dollar terms. In the last fiscal, a total of 699, 170 tonne of spices and spice products, valued at R11,171.16 crore ($2,040.18 million) were exported from
Mint products recorded a remarkable increase in exports, posting a turnover of R2,202 crore (up 39%) and volume of 17,850 tonne (up 94%). In April-December 2012, exports of mint and mint products stood at 9,210 tonne, valued at R1,582 crore.
Also see: Financial Express: India's Best Banks
Continuing its consistent performance, chilli netted foreign exchange worth R1,846 crore. In terms of total export volume, chilli stood first with a whopping 205,500 tonne. In the the corresponding period of the previous year, chilli brought in R1,590 crore, with export volume at 197,752 tonne.
Seed spices also showed an impressive increase as problems in Turkey and Syria have impacted trade from these countries, which happen to be Indiaís competitors. Coriander, in April-December 2013, recorded a 78% increase in volume and 89% in value when compared with April-December 2012.
During the period, a total of 193,625 tonne of seed spices, valued at R1,906 crore, was exported compared to 109,067 tonne valued at R1,008 crore in the previous year. Among seed spices, cumin registered a prominent increase of 89% in volume and 83% in value with a total export volume of 96,500 tonne valued at R1,282 crore. Coriander also saw notable growth of 48% in volume and 120% in value.
Pepper and cardamom (small) were true to their historical demand, marking increases of 41% and 23%, respectively, in value, with corresponding export volumes at 15,350 tonnes and 2080 tonnes. During April-December 2013, exports of pepper and cardamom(small) were valued at R651 crore and R164 crore, respectively, against R462 crore and R134 crore previous year.
Spices Board officials also said they were in discussions with leading chocolate manufacturers, including Cadbury, Amul and Nestle, for marketing of spice-flavoured chocolate in domestic and International