Spices export touches over Rs 4,000 crore in four months

KOCHI: Spices exports have jumped 10% in quantity and 11% in value for the four-month period of April-July 2014.

The total export of spices during the period touched 2,71,280 tonne valued at Rs4,339 crore ($721.02 million). Chilli and mint continued to be the largest foreign exchange earners in the spice basket. The increase is 6% in dollar terms.

“Promising export figures point to an increased demand for Indian spices. We look forward to an alltime high export record for the financial year with prominence to value-added products,’’ Spices Board chairman A Jayathilak said. In 2013-14, a total of 8,17,250 tonne, valued at Rs13,735 crore ($2,267 million) was exported.

Chilli exports at 99,000 tonne worth Rs938.8 crore showed 33% increase in quantity and 37% rise in value for four months. Mint products came second in earnings at 7,100 tonnes valued at Rs828.25 crore. Cumin at 58,000 tonne worthRs672.10 crore came next in the earnings.

Export of value-added products like spice oils and oleoresins stood at 3,975 tonne valued Rs543.95 crore.

Despite high prices in the domestic market, pepper exports showed 54% rise in quantity at 6450 tonne and 43% increase in value atRs332.46 crore.

Ginger, turmeric and seed spices also showed good improvement. Overall, all 18 spice varieties showed an increase.

The board has targeted 7,55,000 tonne valued at Rs12,304.90 crore for the year 2014-15. In four months, export of spices have shown an achievement of 36% in quantity and 35% in value of rupees. The US and China are main importers of Indian spices.