Spice exports to hit $10 bn by 2017, says official

Spice exports to hit $10 bn by 2017, says official

Coonoor, 17 September India’s spices exports is likely to touch $10 billion by 2017, the head of the state-run Spices Board said on Sunday (16 September).

“We have set up an ambitious target for ourselves and hope to have $10 billion exports by 2017," Chairman V.J. Kurian told reporters at the United Planters’ Association of Southern India’s (UPASI) two-day meeting in the south Indian town.

India, which is likely to export 380,000 tonnes in 2007/08, has a 47% share in the world market, he said.

“Exports of organic spices have increased, and we hope to see a major jump in the coming year," Kurian said.

Organic spices exports rose 58% to $3.19 million in 2006/07.

India is the largest producer, consumer and exporter of spices. India’s production in 2007/08 is expected to jump 10% from this year’s 4 million tonnes.