The strengthening rupee has not dampened the export of spices from the nation, which managed to achieve good growth in all commodities for the first quarter of the current fiscal. Interestingly, import of some of the sensitive spices like pepper, cardamom (small) and turmeric have come down during the first quarter.
According to Spices Board, exports for Q1 are higher by 25% in quantity and 36% in value terms compared to the same period of last fiscal. Exports have reached the level of 111,420 tonne valued at Rs 967.30 crore ($234.53 million) as against 88,950 tonne valued Rs 712.97 crore ($156.63 million) in the same period of 2006-07.
Pepper, cardamom (large), chilli, coriander, fennel, fenugreek and nutmeg and mace performed better than last year. Among the value added spices, curry powder and spice oils, and oleoresins have done better. In the case of mint products, even though there is a marginal decline of quantity exported, value realised has shown significant improvement.
Performance of some of the items like cardamom (small) ginger, cumin, celery, garlic, and vanilla fell short of last year?s performance.
During April-June 2007, India exported 7,000 tonne of pepper valued at Rs 97.26 crore, which is higher by 40% in quantity and 137% in value. The fob unit value has increased to Rs 139 per kg from Rs 82 per kg of last year. Indian pepper has become more competitive in the international market especially during May and June 2007.
India exported 52,000 tonne of chilli valued at Rs 288.50 crore as against 23,715 tonne valued at Rs104.76 crore of last year. The demand from the traditional buyers like Malaysia and Sri Lanka are on the rise. Presently India is the main source of red chilli for international market. After the lean production of last year, the new Chinese crop will reach the market only by October.
Pakistan the other producer may require a large portion of their September crops for internal consumption.