Record export growth of Indian spices in 2017-18

Record export growth of Indian spices in 2017-18

Record export growth of Indian spices in 2017-18

India exported a record 10,28,060 tonnes of spices and spice products valued at Rs 17,929.55 crore in 2017-18 as against 9,47,790 tonnes worth Rs 17,664.61 crore in FY 2016-17, registering an increase of 8 per cent in volume and one per cent in rupee terms.

In dollar terms, exports of spices were pegged at USD 2,781.46 million, notching an increase of five per cent as compared to 2016-17, a Spices Board release said here.

“Exports of Indian spices maintained an increasing trend during 2017-18, attaining an all-time record in both volume and earnings,” Spices Board Secretary A Jayathilak said.

Equally heartening was the fact that the total exports exceeded the target fixed for 2017-18 both in terms of volume and value, he added.

Compared to the target of 10,23,000 tonnes valued at Rs 17,665.10 crore (USD 2,636.58 million) for the financial year 2017-18, the achievement was 100 per cent in terms of volume, 101 per cent in the rupee and 105 per cent in dollar terms, he said.

“The appreciable increase in exports in 2017-18 was the consequence of innovative market interventions and the emphasis on value-added products by the Board to promote Indian spices globally,” the official said.

During FY 2017-18, small cardamom, cumin, garlic, asafoetida and tamarind and seeds like ajwain (Bishop’s weed or carom), mustard, dill seed and poppy seed showed an increase both in volume and value, contributing substantially to spice export basket.

During the period, a total volume of 17,200 tonnes of spice oils and oleoresins worth Rs 2,661.72 crore were exported as against 12,100 tonnes valued at Rs 2,307.75 crore in the preceding year, marking an increase of 42 per cent in volume and 15 per cent in value.

Mansa

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