India's spices exports grew by 43 per cent in value during the first eight months of the current fiscal. In terms of dollar earnings, spices exports grew by 40 per cent during the same period. While the unit value realisation and demand for most Indian spices improved in the international markets, volumes registered a fall of five per cent.
The country exported 3, 51,900 tonnes (3, 72,010 tonnes) of spices during April-November and earned Rs 6,209 crore (Rs 4,336 crore). The foreign exchange realisation was $1332 million ($ 948 million).
CARDAMOM
Cardamom was one of the star performers in the spices exports basket. Cardamom exports grew by 443 per cent to 3,100 tonnes (570 tonnes) while realisations grew by 289 per cent to Rs 253 crore (Rs 65 crore). Pepper also showed tremendous growth. While the unit value of pepper exports surged from Rs 183 to Rs 305 a kg, the volumes moved from 11,850 tonnes to 17,000 tonnes. Earnings almost doubled from Rs 217 crore to Rs 518 crore against the corresponding period this year.
Export of pepper, cardamom, cardamom (large), ginger, turmeric, cumin, celery, fenugreek, nutmeg and mace and other spices like tamarind and asafetida all have shown an increase both in volume and value as compared to April-November 2010. The export of value added spices like curry powder/paste has also increased both in volume and value.
In the case of chilli, spice oils and oleoresins and mint products, the increase is in terms of value only. The export of other spice items has shown decline both in volume and value as compared to last year. Turmeric was another important component of the export basket registering growth of 63 per cent in volume and 15 per cent in value. Turmeric exports grew to 58,000 tonnes realising Rs 571 crore.
Export of value added spices like curry powder and curry paste grew 11,500 tonnes (9,875 tonnes) during the period realising Rs 164 crore (Rs130 crore). Export of value added spices like curry powder/paste, spice oils and oleoresins form a most significant component in the country's spices export basket. Spice oils and oleoresin exports grew by 33 per cent in value while mint and mint product exports grew by 51 per cent.