Buoyed by increased overseas demand, India's spices exports may go up by 18-20 per cent in the current fiscal to around $1.4 billion, a top Spices Board official has said.
"According to our estimates, spices exports from India is likely go up by 18-20 per cent in the current fiscal over 2009-10," Spices Board Chairman V J Kurian said.
Kurian said that the Board was optimistic of the rise in exports due to encouraging order book.
India had exported a record of 5.02 lakh tonnes spices worth $1.173 billion in 2009-10 despite the global economic recession.
Total exports of spices were 4.7 lakh tonnes in 2008-09 valued at $1.168 billion.
Driven by a surge in garlic, ginger and chilli shipments, India's spice export jumped 8.11 per cent to 2.73 lakh tonnes in the first six months of the current fiscal, compared to 2.53 lakh tonnes in the corresponding period last fiscal.
The total shipment of spices in the corresponding period of the last fiscal were around 2.53 lakh tonnes, the Spices Board said in a statement.
In terms of value, the export of spices increased by 22 per cent to $672 million as against $550 million in the corresponding period last fiscal.
According to spices' board data, shipments of garlic went up by more than three-fold to 14,750 tonnes in the first half of the current fiscal.
Exports of ginger from the country also rose during the period by over two fold to 4,450 tonnes in volume terms, and by 98 per cent to Rs 32.47 crore in value terms.
Chilli shipments rose by 28 per cent in the first half of the fiscal to to 117,500 tonne.
According to industry experts, the drop in Chinese chilli production this year has also aided in better realisation for Indian exports. Malaysia, Sri Lanka, Bangladesh and Indonesia are the main buyers of Indian chilli.
India exports spices to around 170 countries and the US is the main market for Indian exporters.
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