Kottayam: India, for the first time, has achieved foreign exchange worth Rs 4435.50 crore through export of spices of 4,44,250 tonnes in the last financial year,compared to Rs 3575.75 Crore revenue through export of 3,73,750 tonnes in 2006-07.
Last year, the Spices Board estimated revenue of Rs 3600 Crore through exports, but the revenue increased to 4435.50 crore. While the quantity estimated rose to 117% in rupee terms 123% in dollar value it jumped up to 126%, Spices Board sources told PTI.
Though the board exports spices to 130 countries, 80% of revenue is received from 20 countries. Of the 40 lakh tonne production, the country exports only 10%.
Last year, export of pepper was at a new high. India exported 35,000 tonnes and earned Rs 519.50 crore, while the target was 30,000 tonnes and Rs 450 crore respectively, an increase of 22% in quantity and 70% price-wise.