While there has been a decline in the volume of spices exports from the country during April-August, the value realisation in rupee terms has registered a smart increase. The volume of spices exports declined by 23 per cent to 1,95,500 tonnes (2,55,100 tonnes) during the first five months of the current fiscal even as value increased by 26 per cent to Rs 3,365 crore (Rs 2,676 crore). The foreign exchange realisation was up by 29 per cent to $ 751.52 million ($581.15 million).
Some of the principal drivers for the export growth came from spices such as pepper, cardamom (small), cardamom (large), ginger, turmeric, nutmeg and mace, tamarind and asafoetida which have shown an increase both in volume and value. While export of value added products such as curry powder and paste has increased both in volume and value others such as spice oils, oleoresins and mint products have registered increases only in value terms. The export of few other spices has registered a decline in volume and value.
Pepper exports
There has been a strident growth in the unit value realisation from pepper exports which grew from Rs 173 a kg last year to Rs 268 a kg this year. The volume and value of pepper exports grew to 8,750 tonnes realising Rs 234 crore. Export of small cardamom also registered sharp increase, growing by 517 per cent in quantity to 1,450 tonnes realising Rs 130 crore.
Among the value-added products, 7,000 tonnes of curry powder/paste was exported fetching Rs 99.53 crore. Spice oils and oleoresins registered a growth of 38 per cent in value to Rs 519 crore while mint and mint product exports grew by 58 per cent to Rs 746 crore.