NEW DELHI: Indian spices continue their strong showing in the international market as export earnings rose to Rs.14,899 crore ($2,432 million) during 2014-15 from Rs.13,735 crore ($2,267 million) during the previous financial year.
A press release from Spices Board said that the achievement came amid strong international competition. The rising demand in the international market showed that Indian spices continued to keep up their quality, the press release said citing Board Chairman A. Jayathilak.
Chilli contributed the most to the export earnings with 3.47 lakh tonnes of exports earning Rs.3,517 crore, a growth of 29.2 per cent. The volume grew by 11 per cent.
The Indian spices basket comprises chilli, pepper, coriander, small and big cardamom, mint and mint products, cumin, spices oils and oleoresins, fenugreek, curry powders and pastes.
The total volume of spices and spice products export stood at 8.93 lakh tonnes, a growth of nine per cent. Export earnings grew eight per cent in rupee terms and seven per cent in dollar terms.
Exports also surpassed the targets set for the financial year. The targets were 7.5 lakh tonnes in volume; Rs.12,304 crore in rupee earnings and 2,000 million in dollar terms.
During 2013-14, spices exports stood at 8.17 lakh tonnes. Earnings stood at Rs.13,735 crore ($2,267 million).
Pepper exports earned Rs.1,208 crore on a total volume of 21,450 tonnes. This was a growth of one per cent in volume and 29 per cent in value. Export of small cardamom stood at 3,795 tonnes worth Rs.323 crore.
