Spice exports close in on targets

The export of spices during April"�January 2007-08 grew 22 per cent in rupee value and 38 per cent in dollar terms, according to the latest estimates of the Spices Board. The exports grew 20 per cent in terms of volumes.

IN A NUTSHELL

Total exports during Apr-Jan 2007-08 stood at 349,775 tn as against 292,185 tn in the corresponding period in 2006-07

Chilli, fennel, fenugreek and pepper achieved commendable performance in volume and value terms.

However, garlic, cardamom [small] and nutmeg and mace exports have suffered a set back

Total exports during the period stood at 349,775 tonnes valued at Rs 3,485.48 crore as against 292,185 tonnes (Rs 2,850.45 crore) in the corresponding period in 2006-07.

During the ten-month period, the export earnings of spices in dollar terms crossed the last year's total earnings of $792.95 million and reached an all-time high of $864.95 million. Against the target of 380,000 tonnes for financial year 2007-08, 92 per cent has been already achieved.

Compared with the rupee target of Rs 3,600 crore and and dollar target of $875 million, 97 per cent and 99 per cent, respectively, has been achieved.

Chilli, fennel, fenugreek and pepper achieved commendable performance in volume and value terms. Export spices like chilli, mint products and vanilla have already exceeded the target in volume.

Chilli exports rose 50 per cent at 157,500 tonnes valued at Rs 848.37 crore as against 104,885 tonnes (Rs 557.69 crore) in the 2006-07 period and a 52 per cent increase in value terms.

The target has been exceeded by 17 per cent in quantity and 26 per cent in value, providing around 25 per cent of the total earnings from export of spices. Exports of coriander has increased 29 per cent in volume and 44 per cent in value at 21,250 tonnes at Rs 87.42 crore.

Pepper exports, which stood at 29,300 tonnes, realised an earning of Rs 427.63 crore.

Although export of spice oils and oleoresins rose just 3 per cent at 5,280 tonnes, value realisation was high at Rs 443.30 crore and 81 per cent of the target for the year has already been achieved.

Mint product exports grew 17 per cent at 16,000 tonnes, valued at Rs 991.08 crore. The spice has already achieved 106 per cent of the export target in volume and 101 per cent in value.

However, garlic, cardamom [small] and nutmeg and mace exports have suffered a set back.

Garlic shipments dipped 94 per cent in volume and 82 per cent in value. Only 625 tonnes, valued at Rs 3.58 crore, were exported as against 11,125 tonnes, valued at Rs 20.24 crore in the 2006-07 period. Exports of nutmeg and mace dropped by 29 per cent in volume and 22 per cent in value at 1,150 tonnes, valued at Rs 25.34 crore.

In case of curry powder, 9,500 tonnes, valued at Rs 91.68 crore, were shipped and 95 per cent of the total annual target and 96 per cent of the value target has been achieved.