Spices exports during the first seven months of the current fiscal declined by 9,870 tonnes in volume and Rs 162.22 crore in value due to availability from other origins in the world market.
Total shipments during April-October 2009 stood at 2,80,885 tonnes valued at Rs 3,031.61 crore against 2,90,755 tonnes valued at Rs 3,193.84 in the same period the previous financial year, official sources told Business Line.
Black pepper exports fell to 11,500 tonnes valued at Rs 126.94 crore from 14,750 tonnes valued at Rs187.60 crore in the first seven months of last fiscal. Shipments of cardamom (small), turmeric, cumin, nutmeg and mace and garlic increased significantly despite increase in unit value due to non-availability from other producing countries, export sources said.
“We cannot say that there is a drop in exports as the shipments last fiscal was the highest and, in fact, a historical achievement. When the average performance during the past three years is taken there may not be a decline,” according to a senior Board source.
The contracts signed after the recession have started impacting the importing countries and that has reflected on the country's exports. But the situation has changed in September and October with exports showing an upward swing from that of the same period last fiscal, he said.
Last fiscal, the recession coupled with fall in output in several spices producing countries paved the way for increased exports from India, he said.
Buyers in overseas markets have reduced their holding capacity and resorted to hand-to-mouth buying to avoid investing in inventories.
Source : Business Line