Spices export up 9% in 2014-15

Kochi: Indian spices maintained their robust demand in the international market with exports from the country touching Rs 14,900 crore ($2,433 million) in 2014-15, compared to Rs 13,735 crore ($2,268 million) a year earlier.

Chilli, mint and mint products, cumin, spice oils & oleoresins, pepper, turmeric, coriander, small cardamom, curry powder/paste and fenugreek contributed substantially to the spice export basket as the demand for Indian spices scaled up phenomenally.

In 2014-15, a total of 893,920 tonnes of spices and spice products were exported, registering a nine per cent increase.

The total export of spices during 2014-15 exceeded the target of 755,000 tonnes valued at Rs 12,305 crore ($2,000 million) in terms of both volume and value for 2014-15.

“The increased demand for Indian spices in the international market is a testimony to their unmatched quality and escalating faith in their sustainability," said A Jayathilak, chairman, Spices Board.

Chilli the most exported spice

Chilli continued to be India's largest exported spice, accounting for 347,000 tonnes worth Rs 3,517 crore in 2014-15. The export grew 11.04 per cent in quantity and 29.20 per cent in value compared to FY14.

Mint and mint products - mint oils, menthol and menthol crystals - earned substantial foreign exchange worth Rs 2,689 crore through exports of 25,750 tonnes, emerging as a major money-spinning commodity in international spice markets.

In terms of volume, chilli was followed by cumin with an export quantity of 155,500 tonnes that earned foreign exchange worth Rs 1,838.20 crore. In 2013-14, the figures stood at 121,500 tonnes valued at Rs 1,600 crore.

Value added spice products such as spice oils and oleoresins notched a significant high with figures of 11,475 tonnes (exports) and Rs 1,910 crore, registering a growth of one per cent in quantity and 10 per cent in value, respectively. The figures for the corresponding period in 2013 stood at 11,415 tonnes and Rs 1,733 crore, respectively.

Marginal rise in pepper

Pepper contributed significantly to export earnings by bringing home Rs 1,208 crore with a corresponding export volume of 21,450 tonnes in FY15. The earnings from pepper exports rose marginally as the figures in the corresponding FY14 were Rs 940 crore and 21,250 tonnes, registering an increase of one per cent and 29 per cent in terms of volume and value, respectively.

Turmeric continued to make great strides with an export volume of 86,000 tonnes worth Rs 744.35 crore compared to 77,500 tonnes and Rs 666.75 crore in FY14.

Coriander, too, commanded high demand in foreign markets. By exporting 46,000 tonnes, it fetched Rs 498.12 crore while curry powder/paste fetched Rs 476.26 crore for 24,650 tonnes.

Small cardamom stood at 3,795 tonnes, which earned foreign exchange worth Rs 498.12 crore. However, large cardamom’s export value surged substantially to Rs 84.04 crore compared to Rs 79.61 crore in FY14.

Ginger, nutmeg and mace, fennel, fenugreek, garlic, celery and other seed spices (mustard, aniseed, bishops weed, dill seed, etc) also chipped in significantly by bolstering spice exports and earning precious forex for the country.

5 spices account for 70%

In 2014-15, chilli, cumin, turmeric, coriander and ginger accounted for more than 70 per cent of the total volume of spice exports. Mint, chilli, spice oils & oleoresins, cumin and pepper accounted for 70 per cent of the total export earnings.

“Indian spices are not only lucrative products for the national exchequer, but have also become a trusted global brand. The challenge for us is to give a huge impetus to their exports and sustain their quality and flavour,” said Jayathilak.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.