Indian spices maintained their robust demand in the international market with exports exceeding the target by touching ₹14,899.68 crore in FY15 against ₹13,735.39 crore in the previous fiscal.
Chilli, mint and mint products, cumin, spice oils and oleoresins, pepper, turmeric, coriander, small cardamom, curry powder/paste and fenugreek contributed substantially to the spices export basket, as the demand scaled up phenomenally at the global level.
About 8,93,920 tonnes of spices and spice products valued at ₹14,899.68 crore ($2,432.85 million) were exported, registering a 9 per cent increase in volume and 8 per cent in rupee terms and 7 per cent in dollar terms in value against 8,17,250 tonnes in FY14. The export figure also exceeded the target of 7,55,000 tonnes.
The achievement is substantial and it was achieved in the face of tough competition. Increased demand for Indian spices in the international market is a testimony to their unmatched quality and escalating faith in their sustainability, A Jayathilak, Chairman, Spices Board, said.
Chilli continued to maintain the leading position in the export basket, accounting for 347,000 tonnes in quantity and ₹3,51,710 lakh in value. Mint and mint products also earned substantial foreign exchange worth ₹2,68,925 lakh through exports of 25,750 tonnes.
In terms of volume, chilli was followed by cumin with an export quantity of 1,55,500 tonnes earning a foreign exchange worth ₹1,83,820 lakh.
Pepper contributed significantly to export earnings by bringing home ₹1,20,842 lakh with a corresponding export volume of 21,450 tonnes.
Value-added spice products like spice oils and oleoresins notched a significant high with figures of 11,475 tonnes and ₹1,91,090 lakh. Turmeric too continued to make great strides with an export volume of 86,000 tonnes, which translated into an earning of ₹74,435 lakh.
Coriander was another major spice with a huge demand in foreign markets. By exporting 46,000 tonnes, it fetched ₹49,812.50 lakh, while curry powder/paste contributed to the exchequer with a tidy amount of ₹47,626 lakh through export of 24,650 tonnes.
“Indian spices are not only lucrative products for the national exchequer but have also become a trusted global brand. The challenge for us is to give a huge impetus to their exports and sustain their quality and flavor”, Jayathilak said.