BackExport of spices increases 20% in April-May
Export of spices increases 20% in April-May
Premium
India’s spices export in the first two months of the fiscal year to March rose 20% in volume terms on the back of strong demand for pepper, chilli and jeera (cumin seeds), the Spices Board said on Monday.
Total spice exports during April-May stood at 98,570 tonnes, compared with 82,210 tonnes a year ago, it said in a statement.
In value terms, exports rose 28% to Rs885 crore during the period from Rs691 crore a year ago.
Spice oils, oleoresins and mint products together contributed 35% of the total export earnings, while chilli contributed 27%, followed by pepper, jeera and turmeric, it said.
Pepper exports during the period rose 17% to 5,750 tonnes.
India, the second largest pepper producer and exporter, exports mainly to the US, the UK, Italy, Germany and Canada.
Jeera exports grew three times in April-May due to strong export demand on hopes of lower production in other major producing countries like Syria and Turkey.
It exported about 6,500 tonnes, compared with 2,180 tonnes in the same period last year. India is the world’s largest jeera producer and exporter.
Chilli exports in the same period rose 21% to 50,000 tonnes on strong demand from Pakistan, which is the main competitor to India in international markets, it said.
Exports of spice oils and oleoresins increased 41% to 1,500 tonnes, while mint products exports rose 21.1% to 2,900 tonnes during April and May, the statement said.
However, exports of spices like turmeric, cardamom, ginger and fennel was lesser than in the same period last year.
Turmeric exports declined 7.1% to 8,550 tonnes due to higher prices in domestic markets, which diverted buyers towards cheaper sources like Myanmar.
Turmeric prices in Nizamabad, Andhra Pradesh, spot market almost doubled to Rs4,100 in June compared with a year ago on lower output.
India produces over 4 million tonnes of spices and exports around 180 spice products to over 150 countries.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
