India’s Spice Exports Register 8 per cent Growth in 2017-18
Kochi: Maintaining a healthy growth trajectory for its quality spices in international markets, India exported a record 10,28,060 tonnes of spices and spice products valued at Rs. 17,929.55 crore in 2017-18 as against 9,47,790 tonnes worth Rs. 17,664.61 crore in FY 2016-17, registering an increase of eight per cent in volume and one per cent in rupee terms.
In dollar terms, exports of spices were pegged at US $ 2,781.46 million, notching an increase of five per cent as compared to 2016-17. “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,” said Dr. A Jayathilak, Secretary, Spices Board.
Compared to the target of 10,23,000 tonnes valued at Rs.17,665.10 crore (US$ 2,636.58 million) for the financial year 2017-18, the achievement was 100 per cent in terms of volume, 101 per cent in the rupee and 105 per cent in dollar terms, he noted.
“The appreciable increase in exports in 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 FY 2017-18, small cardamom, cumin, garlic, asafoetida and tamarind and seeds like ajwain (Bishop’s weed or carom), mustard, dill seed and poppy seed showed an increase both in volume and value, contributing substantially to the 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 as against 3,850 tonnes worth Rs.421.50 crore a year earlier, registering an increase of 48 per cent in volume and 45 per cent 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 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 the figures of 22,300 tonnes valued at Rs 2,527.50 crore, registering an increase of 28 per cent in value terms.
During 2017-18, a total volume of 1,43,670 tonnes of cumin valued at Rs.2,418 crore was exported as against 1,19,000 tonnes worth Rs.1,963.20 crore in the preceding financial year, registering an increase of 21 per cent in volume and 23 per cent in value.
Garlic, with an export of 46,980 tonnes, fetched Rs.309.36 crore as compared to 32,200 tonnes valued at Rs.307.12 crore in FY 2016-17, registering an increase of 46 per cent in volume and one per cent in value.
As for value-added products, the export of curry powder/paste was 30,150 tonnes, which earned Rs. 616.20 crore, while in the preceding year the figures were 28,500 tonnes and Rs.599.10 crore, respectively, registering an increase of 6 per cent in volume and 3 per cent in value.
During the period, a total volume of 17,200 tonnes of spice oils and oleoresins worth Rs. 2,661.72 crore were exported as against 12,100 tonnes valued at Rs.2,307.75 crore during the preceding year, marking an increase of 42 per cent in volume and 15 per cent in value.