Spices export up 29% at 2,100 crore

Spices export up 29% at 2,100 crore

Mumbai: The country’s spices export has risen 29% at Rs2,100 crore in the first six months of the current fiscal, compared with Rs1,627 crore a year ago, Spices Board data shows.

In volume terms, the overseas sales jumped 22% to 219,640 tonnes in April-September, against 180,500 tonnes in the same period last year, the state-run board said.

Data from the board revealed that the export of chilli crossed the 100,000 tonnes mark, earning Rs549.25 crore in the first half.

The country exported 58,285 tonnes of chilli valued at Rs285.37 crore in the year-ago period.

Indian pepper also remained a favourite among foreign buyers, as pepper exports stood higher at 17,000 tonnes valued at Rs245.43 crore in H1 FY08, against 12,450 tonnes valued at Rs108.66 crore in the H1 FY07, the data showed.

Among other leading spices were turmeric at Rs78.18 crore, cumin Rs120.97 crore, fennel Rs16.58 crore, fenugreek Rs19.66 crore, garlic Rs1.87 crore, nutmeg and mace Rs15.32 crore and vanilla Rs6.46 crore.

Spices export has registered a substantial growth in the last decade. India exports around 0.25 million tonnes of spices annually and accounts for 37% of the export volume and 23% of the export value.

India meets around 70% of the world demand for spice oils and oleoresins, industry officials said.

In FY07, the spice export from India registered an all-time high both in terms of quantity and value.

Export of spices has been 3,73,750 tonnes and valued at $793 million, an increase of 34% in value over FY06.