Continuing with the good performance of last fiscal that ended March, spices exports for the first two months of the current FY has risen by 20% in volume terms and 28% in value (Rupee) terms, when compared to the performance of the corresponding period of last FY.
In dollar terms, the increase is 29%.
The cumulative spices export during the two months is estimated as 98,570 tonne valued at Rs 885.04 crore ($ 214.88 million) as against 82,210 tonne valued at Rs 690.74 crore ($ 166.67 million) in the corresponding period of last year.
Spice oils and oleoresins including mint products contributed 35% of the total export earnings.
Chilli contributed 27%, followed by pepper 11%, cumin 7% and turmeric 4%. During April-May 2008, the export of pepper, chilli, coriander, cumin, celery, other miscellaneous seeds, vanilla, curry powder, spice oils & oleoresins and mint products are higher in terms of both quantity and value as compared to the same period of last year. However, cardamom (large), ginger and fennel have shown decline in terms of both quantity and value.
Pepper exports for the period stands at 5,750 tonne valued at Rs 94.28 crore as against 4,920 tonne valued at Rs 68.77 crore of last year. Chilli exports stands at 50,000 tonne valued at Rs 240.88 crore as against 41,350 tonne valued Rs 232.21 crore of last FY, registering an increase of 21% in quantity and 4% in value terms.
During the last FY, India exported 4,44,250 tonne of spices and spice products valued at $ 1,101.80 million (Rs 4,435.50 crore), Spice Board has fixed a target of $ 1.2 billion worth spices exports for 2008-09.