Spice exports registered a 30 per cent increase in value terms in Q1 at ₹3,976.65 crore ($ 626.81 million) against ₹3,059.74 crore ($511.22 million) in the corresponding period last year.

Given this growth rate, the country has achieved 28 per cent of its full-year export target of ₹14,014 crore ($2,260 million) set for FY16.

The substantial increase in exports in Q1 is the result of market promotion activities to promote Indian spices globally. Garlic, pepper, small cardamom, fenugreek, nutmeg, fennel, spice oils and oleoresins contributed substantially to the export basket, the Spices Board Chairman, A Jayathilak, said.

A volume of 215,215 tonnes was exported in Q1 compared with 213,443 tonnes of the corresponding period last year.

Pepper exports stood at ₹635.9 crore, marking an increase of 201 per cent. In terms of volume, pepper recorded a growth of 148 per cent to reach 10,750 tonnes.

Around 3,725 tonnes of spice oils and oleoresins worth Rs 564.65 crore were exported during April-June this financial year, recording an increase of 24 per cent in terms of volume and 40 per cent in terms of value from the same period last year.

Mint products (mint oils, menthol and menthol crystals) earned foreign exchange worth ₹455 crore through exports of 4,250 tonnes. Cumin with exports accounted to about ₹430.8 crore during the first quarter.

Turmeric also made remarkable strides in export earnings by fetching ₹238.4 crore through shipments of 24,500 tonnes during the period.

Related Topics