Spices exports rise 50% in Apr-Oct

Spices exports have gone up by 50 per cent in value terms during the first seven months of the current financial year.

The country shipped 262,250 tonnes valued at $625.23 million (Rs 2,540.15 crore) in the April-October period against 206,150 tonnes at $417.97 million (Rs 1918.94 crore) last year.

So far, the country has achieved 71 per cent (in value terms) of the export target fixed by the Spices Board. The board has set an export target of 380,000 tonnes valued at $875 million (Rs 3600 crore) for 2007-08. Total exports have increased by 27 per cent compared with the same period last year.

Black pepper saw the sharpest jump in exports with earnings soaring from Rs 140.36 crore in 2006-07 to Rs 303.68 crore, a growth of 116 per cent.

Quantity-wise, 21,100 tonnes of pepper were shipped from the country against 15,050 tonnes last year, registering a growth of 40 per cent.

Chilly exports rose 77 per cent to 120,000 tonnes (at Rs 651.72 crore) against 67,933 tonnes (at Rs 339.23 crore). Malaysia is the largest buyer of Indian chilly (29,500 tonnes) followed by traditional buyers such as Bangladesh (24,000 tonnes), Sri Lanka (15,750 tonnes) and the US (12,725 tonnes). Chilly accounts for 46 per cent of the country's total volume of spices exported and 26 per cent in value term.

Performance of cardamom (large) and seed spices such as coriander, celery, fennel and fenugreek was better than last year. Value-added spices such as curry powder, spice oils, oleoresins and mint products have also witnessed a rise in exports.

However, garlic, nutmeg & mace and vanilla exports declined during the period. The country exported 400 tonnes of garlic valued at Rs 2.40 crore against 10,806 tonnes valued at Rs 19 crore in 2006-07, registering a sharp fall of 96 per cent in quantity and 87 per cent in value.

Export of fennel increased by 51 per cent to 3,500 tonnes and that of fenugreek increased by 62 per cent to 7,850 tonnes during the period.

The import of spices, however, declined by 15 per cent to 45,875 tonnes (at Rs 320.64 crore) in April-October against 53,508 tonnes (at Rs 367.63 crore) imported during the last year.

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SPICED UP

The country exported 262,250 tonnes valued at Rs 2,540.15 crore

Achieved 71 per cent of the export target in value terms

Chilly exports rose 77 per cent to 120,000 tonnes

Value-added spices have also witnessed a rise in exports

The import of spices declined by 15 per cent to 45,875 tonnes compared with 53,508 tonnes last year