India could not maintain the initial momentum in the export of spices as growth dropped by 8 per cent in the first half of the current financial year against a growth of 12 per cent during the period between April and August. In value terms, a 14 per cent growth was recorded as against 16 per cent in the April-August period.
The total spices exports in the first half was 253,550 tonnes worth Rs 2,660.75 crore ($624.15 million) against 233,825 tonnes at Rs 2,329.51 crore ($570.52 million) in the same period last year. The slowdown in the export of spices is due to the global economic turmoil, especially in the Western world, which is the major destination of Indian spices. Leading exporters from Kochi said the coming months may be a tough period for shipping of spices. Though India may be able to meet the annual target of 425,000 tonnes valued at Rs 4,350 crore, the current trend signals serious crunch.
There were serious setback on exports of black pepper and ginger while chilli barely managed to maintain the same level recorded in the first half of the last financial year.
A 17 per cent increase was recorded in coriander export against 32 per cent in the April-August period. All spices and spice-based value-added products except cardamom (small), turmeric and celery recorded declines in growth rate.
Pepper export dropped from 19,165 tonnes valued at Rs 279.15 crore to 12,750 tonnes worth Rs 215.70 crore, registering a fall of 33 per cent in volume and 23 per cent in value.
| LOODING MOMENTUM Spice exports in April to September | ||||
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2007 | |||
2008
Till August of the current fiscal, chilli had recorded a 3 per cent growth while growth in the April-September period stood at 109,000 tonnes valued at Rs 581.17 crore. In September, chilli export was 12,000 tn against 16,000 tonnes in August. Black pepper export, which was 1,750 tonnes in August, dropped to 1,500 tonnes in September. Pepper export recorded 3,543 tonnes during September, 2007.
There had been a drop of 500 tonnes in coriander in September at 1,250 tonnes valued at Rs 10 crore against 1,750 tonnes valued at Rs 13.38 crore during August.
Export of major value-added items such as spice oils and oleoresins hardly maintained the same level of growth in April-September compared to April-August at 3,500 tonnes valued at Rs 344.22 crore against 2,755 tonnes valued at Rs 229.89 crore registering a growth of 26 per cent in volume and 48 per cent in value during H1.
In other seeds such as mustard, aniseed, Bishop’s weed, dill seed and poppy seed, a 285 per cent rise was seen in volume at 10,850 tonnes and 335 per cent growth in value at Rs 40.66 crore. Compared to the April-August period, the growth dropped by 46 per cent in quantity and 60 per cent in value.
Almost 7,250 tonnes of curry powder/paste valued at Rs 81.89 crore were shipped in the first half of the financial year compared to 5,530 tonnes valued at Rs 53.27 crore last year. A whopping 97 per cent increase was recorded in cumin at 23,500 tonnes valued at Rs 241.73 crore compared to 11,920 tonnes valued at 125.33 crore in the April-September period of 2007-08. Mint products recorded 18 per cent drop in volume at 9,550 tonne and 9 per cent decrease in value at Rs 659.93 crore in the first half.
