India Intelligence Report
 

   Spices Exports Up

 

For millenniums, Indian nations have exported prices to Egypt, Rome, China, Israel, Srivijaya (Sumatra), and Kadaram (Malaysia) in return for ships laden with gold; but in the last decades, this sector has hardly received any attention from the Government. For the first time, Indian spices trade growing at 4.3% is desperately trying to cross Rs. 2295.25 crore or the USD 500 million thresholds.

Spices Board Chairman VJ Kurien said that the export target as 300,000 tons of spices valued at Rs 2,400 but exports actually decreased 4.5 percent in volume but increased in value. Volumes of total spice exports fell to 320,527 tons from 335,488 tons valued at Rs 2,200 last year. Of all the spices, spice oils, oleoresins, mint, mint products and curry powder together bring in 50% of total value exports.

During the year, the board earned Rs 575 crore foreign exchange from mint products alone and Rs 500 crore from spice oil and oleoresins exports. Year on year growth in the export of spices including pepper, small variety of cardamom, garlic, nutmeg and mace, curry powder, mint products, spice oils and oleoresins has increased both in quantity and value.

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