KOCHI: Indian spices and spice products posted record exports of ?17,664.61 crore ($2,633 million) and 9,47,790 tonnes in volume terms in 2016-17, sustaining its robust demand in international markets in the face of stiff competition.
The buoyancy in exports of spices and related products, both in volume and value terms, compares favourably with figures of 8,43,255 tonnes valued at ?16,238.23 crore ($2,482 million) in 2015-16; they mark an increase of 12 per cent in volume terms, 9 per cent in rupee terms and 6 per cent in dollar terms.
Chilli continued to be the most in demand in FY 17 with exports of 4,00,250 tonnes amounting to ?5,070.75 crore. Cumin was the second-most exported spice, registering a volume of 1,19,000 tonnes valued at ?1,963.20 crore.
With this, India has surpassed earlier export records and has fulfilled the increasing international demand for its quality spices in the face of tough competition in global markets. More satisfying was the fact that the appreciable increase in exports came in the face of strict food safety regulations that now define and determine the international commodity trade, said Spices Board Chairman A Jayathilak.
The increased global demand for turmeric, especially in the pharmaceutical sector, drove exports to 1,16,500 tonnes in volume terms and ?1,241 crore in value terms.
According to Jayathilak, the efforts of the Spices Board to promote production of large cardamom, especially in the country’s North-Eastern region, which is the organic area by default, led to a rise in exports by 30 per cent in volume terms and 9 per cent in value terms.
A shift in dietary preferences from conventional spices to processed and value-added spices was evident in the spice export statistics, he added.
Source: Thehindubusinessline.com
