NEW DELHI: Indian spices exports have risen 8% in value terms in 2014-15 fiscal to reach close to Rs 15,000 crore.
A total of 8,93,920 tonnes of spices and spice products valued at Rs.14,899.68 crore ($2432.85 million) were exported during the year. This represented 9 % increase in volume and 8 % in rupee terms and 7 % in dollar terms in value as compared with 8,17,250 tonnes valued at Rs.13,735.39 crore ($ 2267.67 million) in 2013-14.
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 continued to be robust in the international market.
The total export of spices exceeded the target of 7,55,000 tonnes valued at Rs 12,304.90 crore ($2000 million) in terms of both volume and value for the financial year 2014-15.
” Increased demand for Indian spices in the international market is a testimony to their unmatched quality and escalating faith in their sustainability,” said Dr. A Jayathilak, chairman, Spices Board.
Chilli continued to propel the growth story as India’s largest exported spice, accounting for 347,000 tonnes in quantity and Rs 3,51,7.10 crore in value during 2014-15. The export grew by 11.04 per cent in quantity and 29.20 per cent in value as compared with that in 2013-14.
Mint and mint products (mint oils, menthol and menthol crystals) earned substantial foreign exchange worth Rs 2,689.25 crore through export 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 1,55,500 tons that earned a foreign exchange worth Rs 1,838.20 crore. In 2013-14, the figures stood at 1,21,500 tonnes valued Rs. 1,600 crore.
