Export of spices at new peak, near $950 million

Kochi, March 25 With the current financial year drawing to an end, export of spices from the country has touched a new peak both in volume and value. Exports in volume totalled 3.77 lakh tonnes, valued at Rs 3,785.40 crore ( $940.47 million), during April-February of the fiscal.

Export earnings of spices have exceeded the target fixed for the year both in dollar and rupee terms. Compared to the export performance of 3,25,076 tonne valued Rs 3,177.54 crore ($700.77 million) during the same period last year, exports registered an increase of 16 per cent in volume and 19 per cent in rupee value terms (34 per cent in dollar terms), according to an official release.

Against the target of 3.80 lakh tonnes, valued at Rs 3,600 crore ($875 million), fixed for the year, 107 per cent of the dollar value (105 per cent in rupee value) and 99 per cent of the volume have been achieved during the 11 months of the current financial year. The export during the period has also surpassed the record performance of 3,73,750 tonnes valued at Rs 3575.75 crore ($792.95 million) during 2006-07.

During April-February 2007-08, export of pepper, chilli, curry powder and mint products exceeded targets both in terms of volume and value. Export of coriander and cumin exceeded target in value terms and vanilla in volume terms.

Pepper, chilli, coriander, fennel, fenugreek, vanilla and other miscellaneous spices performed better than last year. Value-added spice products such as curry powder, spice oils and oleoresins and mint products have also done better compared with last year. Performance of some of the items such as cardamom (small and large), ginger, turmeric, cumin, celery, garlic and nutmeg and mace fell short of last year’s performance.

Pepper export

During the 11 months of 2007-08, the export of pepper from the country has been 31,750 tonnes valued at Rs 466.38 crore, which is higher by 20 per cent in quantity and 68 per cent in value compared with last year’s achievement of 26,415 tonnes valued at Rs 276.79 crore. The average f.o.b. unit value has increased to Rs 146.89 a kg from Rs 104.79 a kg last year.

The export of chilli from the country has exceeded the last financial year’s total export performance of the commodity and reached an all-time high, both in terms of quantity and value. During the period, India has exported 1.69 lakh tonnes of chilli valued Rs 906.44 crore against 1,23,330 tonnes valued Rs 668.44 crore of the last fiscal.

Currently, India is the major source of red chilli in the international market. The stringent quality measures implemented by the Board, viz. mandatory sampling and analysis for presence aflatoxin and adulterant Sudan in export consignment of the product has made Indian chilli more acceptable in the international markets.

seed spices

Among the seed spices, coriander, fennel, fenugreek and other seeds such as mustard, dill and celery have performed better than last year. During April-February 2007-08, 22,750 tonnes of coriander valued Rs 94.32 crore exported against 17,890 tonnes valued Rs 65.35 crore of last year.

East European countries such as Romania and Bulgaria, where coriander is produced, has suffered drought condition and the supply from these origins are on a lower side. During the year, 4,450 tonnes of fennel valued at Rs 23.91 crore was exported against 2,835 tonne valued at Rs 19.04 crore last year.

In the same period, export of fenugreek has increased to 10,000 tonnes valued at Rs 29.67 crore against 6,865 tonnes valued at Rs 22.24 crore last year.

In the case of cumin seed, there is a slight decline of 4 per cent in export volume from 23,650 tonnes to 22,750 tonnes.

However, the export value has increased by 33 per cent as the export unit value realisation has gone up from Rs 76.64 a kg in 2006-07 to Rs 105.58 a kg in 2007-08. During the period, the export of vanilla from India has increased by 77 per cent in volume and reached 190 tonnes, against 107 tonnes in 2006-07.

During April- February 2007-08, export of valued-added spices such as curry powder, spice oils and oleoresins and mint products increase dboth in terms of quantity and value compared with the same period last year. The export of curry powder has reached an all-time high of 10,400 tonne valued at Rs 100.23 crore registering an increase of 21 per cent in volume and 29 per cent in value over last year. In the case of spice oils and oleoresins and mint products, the growth in terms of value has been 6 per cent each. In the case of oils and oleoresins, the quantity exported has increased from 5,655 tonne to 5,760 tonne and value realisation from Rs 462.17 crore to Rs 490.71 crore.

During the period, the export of mint products has also increased from 15,020 tonne valued Rs 1,016.35 crore to 17,500 tonne valued at Rs 1076.38 crore. Export of mint products accounts for 28 per cent in terms of value of the total export of spices from India. Spice oils and oleoresins and mint products together accounts for 41 per cent of the total export in terms of value.