Kochi: India’s spices export touched a new milestone by crossing the $1-billion mark, up 39% over the previous year, and achieving a new peak in volume in 2007-08, a top official of the Spices Board said here on 22 May.
During the fiscal, 4,44,250 tonnes of spices and spice products valued at $1,101.80 million (Rs4,435.50 crore) was exported from the country, board chairman V J Kurien told mediapersons.
This marked an increase of 19% in volume, 24% in rupee value and 39% in dollar terms over the previous year, he said.
Export of spices during 2006-07 was 3,73,750 tonnes valued at $792.95 million (Rs3,575.75 crore), he said.
Spices export in 2007-08 also far exceeded the volume and value targets fixed for the year. The target was 3,80,000 tonnes valued at Rs3,600 crore ($875 million).
Kurien said the export target for the current fiscal had been fixed at $1.2 billion. “Though it is not easy to maintain and sustain the tempo, we are optimistic of achieving the target,” he said.
Kurien said during the year 2007-08, the export of pepper, chilli, seed spices, including coriander, cumin, fennel and fenugreek, had shown substantial growth both in volume and value as compared to last year.