Spices exports rise to record 10.3 LT worth nearly Rs 18,000 cr in FY18

Source: The Hitavada      Date: 30 Jun 2018 10:45:33


 

NEW DELHI,

(PTI),

INDIA’S spices exports increased by 8 per cent to record 10.28 lakh tonnes (LT) in the last fiscal, but the growth was marginal in value terms at Rs 17,929 crore, according to the latest data. “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,” Spices Board said in a statement.

In dollar terms, exports of spices stood at USD 2,781.46 million, up five per cent from the 2016-17 fiscal. “Exports of Indian spices maintained an increasing trend during 2017-18, attaining an all-time record in both volume and earnings. Equally heartening was the fact that the total export of spices exceeded the target fixed for 2017-18 both in terms of volume and value,” Spices Board Secretary A Jayathilak said. The increase in exports was because of innovative market interventions and the emphasis on value added products by the board to promote Indian Spices globally, he added.

According to the data, the export of small cardamom touched an all-time record with shipments of 5,680 tonnes valued at Rs 609.08 crore as against 3,850 tonnes worth Rs 421.50 crore in the previous fiscal. Chilli exports stood at 4,43,900 tonnes worth Rs 4,256.33 crore, as compared to 4,00,250 tonnes worth Rs 5,070.75 crore in 2016-17. The decline in value terms was due to volatility in prices of chilli in international markets.The exports of mint products were 21,500 tonnes worth Rs 3,228.35 crore as against 22,300 tonnes valued at Rs 2,527.50 crore.

During 2017-18, 1,43,670 tonnes of cumin valued at Rs 2,418 crore was exported as against 1,19,000 tonnes worth Rs 1,963.20 crore in the previous fiscal, registering an increase of 21 per cent in volume and 23 per cent in value. Garlic, with an export of 46,980 tonnes, fetched Rs 309.36 crore as compared to 32,200 tonnes valued at Rs 307.12  crore in FY 2016-17.

As for value added products, the export of curry powder/ paste was 30,150 tonnes with an earning of Rs 616.20 crore as against 28,500 tonnes worth Rs 599.10 crore in the previous fiscal.During the review 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 fiscal.