Spice exports rise 16% in Apr-Feb

Spice exports during April-February of the current financial year grew by 16 per cent to 377,000 tonnes from 325,076 tonnes in the previous year.

Exports earnings also jumped 19 per cent to Rs 3,785.40 crore ($940.47 million) against Rs 3177.54 crore ($700.77 million) in the same period in 2006-07.

According to the latest estimates of the Spices Board, export earnings exceeded the target fixed for the year, both in dollar and rupee terms, while in volume, 99 per cent of the 380,000 tonne target has been achieved. Exports during the period also surpassed the record performance of 373,750 tonnes at Rs 3575.75 crore (US $ 792.95 million) registered during 2006-07.

Chilli exports, which stood at 169,000 tonnes (valued Rs 906.44 crore), have already crossed last year's total overseas sale of 123,330 tonnes (Rs 668.44 crore), according to the Spices Board's recent estimates.

The board had set an export target of 135,000 tonnes valued at Rs 675 crore for the current financial year. The demand from traditional buyers like Malaysia, Sri Lanka, Indonesia and Bangladesh is on the rise. Malaysia is the largest buyer of Indian chilli (around 41,000 tonnes). Chilli accounts for 45 per cent of the total spice exports in volume and 24 per cent value.

During the 11-month period, pepper exports grew by 20 per cent to 31,750 tonnes, while earnings increased by 68 per cent to Rs 466.38 crore. The average fob unit value increased to Rs 146.89 a kg from Rs 104.79 last year.

Coriander shipments grew from 17,890 tonnes (Rs 65.35 crore) to 22,750 tonnes (Rs 94.32 crore). Around 91 per cent of the target volume and 118 per cent of the target value have already been achieved.

Fennel exports jumped to 4,450 tonnes at Rs 23.91 crore from 2,835 tonnes at Rs 19.04 crore during the period. Fenugreek exports increased to 10,000 tonnes (Rs 29.67 crore) from 6,865 tonnes (Rs 22.24 crore).

However, garlic continues its downward movement with exports dropping by 94 per cent to 660 tonnes (Rs 3.76 crore) against 11,195 tonnes (Rs 20.60 crore) in 2006-07. Only 7 per cent of the target of 10,000 tonnes of set for the year has been achieved so far.

Exports of nutmeg and mace dropped by 30 per cent to 1250 tonnes (Rs 27.34 crore) while shipments of cardamom declined by 35 per cent to 365 tonnes (Rs 17.21 crore).

Exports of value-added spices like curry powder, spice oils and oleoresins and mint products recorded a rise both in volume and value.

The exports of curry powder reached an all-time high of 10,400 tonnes at Rs 100.23 crore, registering a rise of 21 per cent in volume and 29 per cent in value.

In the case of spice oils and oleoresins, the quantity exported rose from 5,655 tonnes to 5,760 tonnes and realisation grew from Rs 462.17 crore to Rs 490.71 crore. Mint products exports increased from 15,020 tonnes (Rs 1016.35 crore) to 17,500 tonnes (1076.38 crore).