Indian spice exports have notched up significant growth in volume, value and foreign exchange earnings during November against the corresponding month of the previous year. However, the most significant gain was in terms of quantity which moved up by 20 per cent, while foreign exchange earnings were up 12 per cent, even as rupee earnings grew by seven per cent.
During November, India exported 39,485 tonnes (32,985 tonnes) of spices valued at Rs 464 crore (Rs 435 crore) earning a foreign exchange of $99.67 million ($88.79 million). The most significant growth was recorded by cardamom (small) which grew by 450 per cent in volume to 275 tonnes while foreign exchange earnings were up by 559 per cent to $4.61 million. There was a spurt in the unit value realisation for cardamom as well.
Chilly also accounted for a significant growth with volumes growing by 56 per cent to 17,500 tonnes while foreign exchange earnings were up 69 per cent to $26 million. The unit value realisation from chilly exports was not significantly different from last year. There was no export of vanilla during last month. Ginger exports also recorded 132 per cent growth in volume and foreign exchange realisations.
Despite a small increase in unit value realisation, pepper exports declined in volume by 29 per cent and dollar earnings by 23 per cent. Mint products were another important constituent of the export basket which registered a nominal fall in volume and value. Mint product exports were at 8,900 tonnes valued at $19.11 million. Spice oils and oleoresins, another important item, showed overall growth trends - with volumes growing by 25 per cent while dollar earning growth was more muted at 11 per cent. This was mainly because unit value realisation for spice oils and oleoresins fell from Rs 1125 a kg last November to Rs 953 a kg this year.
Source : Business Line