KOCHI: Spices exports in 2008-09 are an all-time high in terms of volume and value. Compared to last year, the exports have shown an increase of 19 per cent in rupee value and six per cent in quantity.
Despite the global economic recession, spices exports from India have continued its upward trend and crossed the Rs.5,000-crore mark for the first time, according to Spices Board Chairman V.J. Kurien.
Addressing a press conference, he said the exports during 2008-09 had been 470,520 tonnes valued at Rs.5,300.25 crore against 444,250 tonnes valued at Rs.4,435.50 crore in the last financial year.
The exports during 2008-09 had also exceeded the target in terms of volume and value both in rupee and dollar. The export target was 4,25,000 tonnes valued at Rs.4,350 crore.
The achievement was 111 per cent in quantity, 122 per cent in rupee value and 114 per cent in dollar terms of value.
In the export basket of spices and spice products, spice oils and oleoresins, including mint products, contributed 40 per cent of the total export earnings. Chilli contributed 20 per cent followed by cumin 10 per cent, pepper eight per cent and turmeric five per cent.
Indian spices were exported to over 135 countries and the U.S. led the list with 21 per cent, followed by Malaysia with seven per cent. China and the U.K. had six per cent and five per cent share respectively.
The U.S. is the largest buyer of pepper in the world market. Fluctuations in the import of pepper by the U.S. have a direct impact on the world pepper trade.
Due to the economic slowdown, major U.S. companies are keeping low inventories resulting in low import volume.
In 2008, the U.S. imported about 55,000 tonnes of pepper as against an average import of about 60,000 tonnes per annum.
During 2008-09, India exported a total quantity of 25,250 tonnes of pepper valued at Rs.413.74 crore as against 35,000 tonnes valued at Rs.519.50 crore the previous year, registering a decline of 28 per cent in volume and 20 per cent in value.
Mr.Kurien said the U.S. continued as the major market for pepper and imported 10,050 tonnes, accounting for 40 per cent of the total export of pepper from India in 2008-09.
Source : The Hindu