Kochi Jan. 29 Spices exports were a tad lower during the first nine months of the current fiscal. While volumes were lower by two per cent, rupee earnings fell four per cent even as dollar earnings were lower by 11 per cent. However, the Spices Board has said that substantial portion of the exports, which had declined by 20-25 per cent during the first two quarters of the financial year, has been made up by better performance during the third quarter.
Export contributors
The major component of the spices export during the period were chilli, mint and mint products, spice oils and oleoresins, cumin, turmeric and coriander. While spice oils and oleoresins contributed 34 per cent of the total export earnings, chilli contributed 23 per cent followed by cumin with 10 per cent and turmeric with 7 per cent.
Spices exports during the first nine months were at 3,58,205 tonnes valued at Rs 3,953.74 crore and earning $825.55 million in foreign exchange. During the corresponding period of last year, the country exported 3,66,100 tonnes valued at Rs 4,116.31 crore fetching $926.95 million in foreign exchange.
The exports were up five per cent in dollar earnings in December at $87.50 million ($83.25 million). The country exported 29,850 tonnes (31,375 tonnes) in December fetching Rs 408.06 crore (Rs 404.89 crore). Spices such as cardamom, chilli, garlic, nutmeg and mace, curry powder, spice oils and oleoresins showed considerable growth in December.
Pepper dip
During April-December period there was a fall in volume of pepper exports to 14,750 tonnes (19,450 tonnes) while value fell to Rs 233 crore (Rs 324 crore). Pepper exports to the US, Europe and other major export destinations were affected during the period. The economic slowdown in these major markets seems to have been reflected in falling demand and unit value realisations.
Chilli up
Spurt in unit value realisations has pushed up the earnings from chilly exports. While the volume of chilli exports has fallen by five per cent to 1,39,000 tonnes (1,46,000 tonnes) rupee earnings has spurted up nine per cent to Rs 899 crore (Rs 827 crore). The decline in export volume of chilly was mainly due to the virtual absence of Pakistan from the market.
Last year, Pakistan imported over 22,000 tonnes chilli during the same period.
Small cardamom
Export of small cardamom has registered a significant increase in both volume and value. Volumes spurted by 174 per cent to 1,190 tonnes (435 tonnes) while earnings grew by 223 per cent to Rs 90.04 crore (Rs 27.87 crore). This was accompanied by spiralling cardamom prices both in the domestic and global markets. Turmeric exports grew by 47 per cent in value, while export of nutmeg and mace grew by 97 per cent in value.
Processed spices
Among the processed spices, export of curry powder has increased by 12 per cent in volume and value. However export of spices extracts and mint products during the period have declined. Spices Board officials were happy at the export performance of the period. Against a target of 4,35,000 tonnes set for the year as a whole, the first nine months has been able to achieve 82 per cent at 3,58,205 tonnes. Close to 88 per cent of the export target of Rs 4,500 crore has been achieved with realisation at Rs 3,953.74 crore.
In the case of spices such as small cardamom, cumin, celery, fenugreek, garlic, nutmeg and mace and other seeds, export targets set for the year both in volume and value have been exceeded. In dollar terms the achievement has been at 83 per cent of the target at $825.55 million. With another full quarter to go, Board officials were optimistic that they would be able to fulfil the target set for the year.
Source : Business Line