Spices export from the nation is likely to touch $1 billion by 2008-09 on the back of higher exports of chilli, cumin, and mint products, Spices Board chairman VJ Kurian said. Quality assurance for chilli and cumin coupled with value addition in mint is likely to increase export realisation in the coming years, he added. He expects chilli exports to increase by 15% annually given the efforts taken by the board to ensure quality.
?Mandatory sampling and introduction of specialised drying system has helped India gain the trust of importers,? Spices Board director (marketing) S Kannan told FE. Chilli exports have been increasing at a feverish pace and for Q1, the nation exported 52,000 tonne, an increase of 39% in volume terms and 43% in value terms. Spices Board has fixed a target of 1,35,000 tonne for the current fiscal and expects to beat it by 15%, Kannan said.
Export of cumin is also likely to increase by 10% annually given the better oil content of the Indian commodity, compared to its competitors from Morocco and Turkey, he said. ?Board has taken care to improve the sterilisation process so that the commodity stays free from fungus attack,? he said. The board has fixed an export target of 25,000 tonne for the current fiscal.
Mint product exports from the nation is expected to grow by 20% annually based on the value-addition efforts, he said. According to the Board, India is one of the world?s largest producers of mentha oil and exports nearly 80% of its produce. Bulk of the export is in the form of crystallised menthol. China is a major importer of the crystallised form and re-exports it after value addition.
During 2006-07, a quantity of 16,250 tonne of mint products valued at Rs 1100.95 crore (total spices exports valued at Rs 3575.75 crore) was exported as against 14,544 tonne valued at Rs 813.21 crore in 2005-6, a growth of 36 % in value terms. The US imported 3,418 tonne of mint products while China imported 3,088 tonne.