Spices exports earnings at all-time high

Cross Rs 3,000 crore mark, registering 121% rise over FY07 target.

The earnings from exports of spices in the 11 months between April 2006 and February 2007 crossed the Rs 3,000 crore mark for the first time as against Rs 2,100.40 crore in the corresponding period last year. The exports this year grew by 6 per cent in quantity and 44 per cent in rupee value over those in the same period last year.

The country exported 311,000 tonne of spices valued at Rs 3,020.60 crore ($667 million) in the 11-month period, crossing the target of 306,000 tonne valued at Rs 2,500 crore for the current financial year. In terms of quantity, the exports were 102 per cent higher than the FY07 target, 121 per cent over the rupee value target and showed a 122 per cent rise over the target in dollar value.

Spice oils and oleoresins, including mint products, contributed 46 per cent of the total export earnings. Chilli, with a 20 per cent share, was the second largest contributor to export earnings followed by pepper (9 per cent), cumin (6 per cent) and turmeric (5 per cent).

The exports of pepper, cardamom (large), chilli, turmeric, cumin, nutmeg and mace, vanilla, curry powder and paste, mint products and other spices such as tamarind and asafoetida were higher in terms of both quantity and value compared with last year's figures. In the case of coriander, fennel and fenugreek, however, there was an increase only in terms of value only.

With a 128 per cent rise in quantity and 156 per cent growth in value over the annual target, pepper performed better in both quantity and value. Total pepper exports touched 25,500 tonne at Rs 266.90 crore as against 15,126 tonne and Rs 127.33 crore a year ago. A 5,500 tonne increase in pepper exports over te target of 20,000 tonne target was mainly due to export subsidy introduced in November 2005.

Chilli exports too crossed the target for the whole year at 112,000 tonne vauled at Rs 596.50 crore, registering a growth of 9 per cent in quantity and 65 per cent in value over the numbers in the same period last year. Chilli exports, which had touched an all-time high of 138,000 tonne at Rs 499 crore during 2004-05, had dropped to 113,250 tonne at Rs 403.50 crore in the last financial year.

Cumin exports grew 154 per cent in quantity at 24,250 tonne valued at Rs 185.80 crore (a 158 per cent rise) as against the last year's 9,541 tonne at Rs 72.10 crore.

Exports of vanilla increased to 105 tonne at Rs 16.54 crore against the corresponding 11 months of 2005-06 at 32 tonne worth Rs 6.71 crore. Vanilla exports for the whole of 2005-06 were 72 tonne worth Rs 12.11 crore.

Exports of cardamom (large) increased 37 per cent in quantity at 1,175 tonne valued at Rs 13 crore as against the targeted 1000 tonne at Rs 8.72 crore. The total exports in 2005-06 were 1,025 tonne at Rs 10.60 crore, while they were 950 tonne in 2004-05.

Curry powders and pastes exports grew 7 per cent in quantity at 8,650 tonne and 12 per cent in value at Rs 78 crore. During the same period, mint products exports were 4,250 tonne at Rs 963.70 crore, while the nutmeg and mace figures were 1,790 tonne at Rs 36.15 crore.

Garlic exports, however, witnessed a steep decrease during the same period at 11,175 tonne (down 60 per cent) at Rs 20.70 crore (down 36 per cent). The country had seen a record-high garlic exports in 2005-06 at 29,250 tonne worth Rs 34.50 crore, showing a growth of 1,200 per cent over the numbers in 2004-05.

Meanwhile, there was a marginal drop of 2 per cent in exports of spice oils and oleoresins, where India has more than 90 per cent share of the global market, at 5,520 tonne valued at Rs 441.85 crore.

There was a 17 per cent decline in coriander exports at 18,000 tonne, although the earnings increased 9 per cent at Rs 65.70 crore. The country had registered an excellent performance in coriander exports in 2004-05 at 33,750 tonne valued at Rs 82.66 crore. They had dropped to 22,750 tonne at Rs 64.10 crore last year.