Seed spices see record exports on crop failure abroad

Written by Commodities Bureau | Kochi | Updated: Jan 21 2009, 06:54am hrs
A record export of seed spices due to failure of crops (seed spices) in other regions has helped register an increase in volume and value for the first three quarters of the current fiscal (2008-09). Major contributors to the volume and value of exports like pepper, chilli and mint products are showing a lower trend compared to the performance recorded in the last fiscal (2007-08). Export of spices like cumin, fenugreek, nutmeg and mace, vanilla and other seeds have already achieved the respective targets fixed for 2008-09.

During the April-December period in 2008, India exported 3,34,150 tonne of spices and spices products valued at Rs 3,810.95 crore ($860.40 million) as against 3,25,320 tonne valued at Rs 3,320.00 crore ( $821.45 million) in the corresponding period of the last financial year.

Compared to last year, exports have shown an increase of 15% in rupee value and 3% in volume. In dollar terms, the increase is 5%. Spice oils and oleoresins, including mint products, contributed to 42% of the total export earnings. Chilli contributed 21%, followed by pepper - 8%, cumin - 8% and turmeric - 5%.

With major buyers maintaining lower inventories due to economic pressure, pepper exports have fallen by 31% in volume and 21 % in value compared to the performance in the last fiscal. During the April-December period in 2008, pepper exports from India were 19,100 tonne valued at Rs 317.77 crore as against 27,580 tonne valued at Rs 400.20 crore of the comparable period.

The unit realisation price of pepper has gone up from Rs 145.11 per kg in 2007 to Rs 166.37 per kg in 2008.

Chilli exports have come down in the same period by 6% in volume and 2% in value. It is expected that chilli exports will pick up in the coming months as the new crop comes to market. Exports of cumin have registered a 51% increase in volume and 49% in value, while coriander has recorded an increase of 71% in value over the same volume.