Export of spices and spice products from India during 2017-18 registered an year-on-year increase of 8% in volume and 1% in rupee value terms, state-run Spices Board said on Friday. In dollar terms, exports of spices were pegged at $2,781.46 million, notching an increase of 5% as compared to FY17.
In FY18, India exported a record 10,28,060 tonnes of spices and spice products valued at Rs 17,929.55 crore, against 9,47,790 tonnes worth Rs 17,664.61 crore in the previous fiscal.
“Exports of Indian spices maintained an increasing trend during 2017-18, attaining an all-time record in both volume and earnings. Equally heartening was the fact that the total export of spices exceeded the target fixed for 2017-18 both in terms of volume and value,” Spices Board Secretary A Jayathilak said.
Compared to the target of 10,23,000 tonnes valued at Rs 17,665.10 crore ($ 2,636.58 million) for FY18, the achievement was 100% in terms of volume, 101% in the rupee and 105% in dollar terms, he noted.
“The appreciable increase in exports during 2017-18 was the consequence of innovative market interventions and the emphasis on value-added products by the Board to promote Indian Spices globally,” Jayathilak said.
During FY18, cardamom, cumin, garlic, asafoetida and tamarind, and seeds like ajwain (Bishop’s weed or carom), mustard, dill and poppy seed showed an increase both in volume and value, contributing substantially to spice export basket.
The export of value-added products like curry powder/paste, spice oils and oleoresins also increased in volume and value during the period. The export of chilli, coriander, celery, nutmeg and mace registered an increase in terms of volume while the exports of mint products showed an increase in terms of value.
Export of small cardamom created an all-time record with shipments of a total volume of 5,680 tonnes valued at Rs 609.08 crore, against 3,850 tonnes worth Rs 421.50 crore a year earlier, registering an increase of 48% in volume and 45% in value.
Chilli continued to lead Indian spice shipments with exports of 4,43,900 tonnes, fetching an amount of Rs 4,256.33 crore as compared to 4,00,250 tonnes worth Rs 5,070.75 crore in 2016-17. The decline in value terms was due to volatility in prices of chilli in the international markets.
Chilli was followed by mint products with an export volume of 21,500 tonnes worth Rs 3,228.35 crore as compared to 22,300 tonnes valued at Rs 2,527.50 crore, registering an increase of 28% in
value terms.
During 2017-18, a total volume of 1,43,670 tonnes of cumin valued at Rs 2,418 crore was exported, against 1,19,000 tonnes worth Rs 1,963.20 crore in the preceding financial year, registering
an increase of 21% in volume and 23% in value.
Garlic, with an export of 46,980 tonnes, fetched `309.36 crore as compared to 32,200 tonnes at `307.12 crore in FY17, registering an increase of 46% in volume and 1% in value.
