Spices exports rise to Rs 21,515.4 crores during 2019-20
Kochi: The exports of Indian spices and spice products surged to Rs 21,515.4 crores (US $3033.44 million) with a volume of 11,83,000 tonnes in 2019-20.
The spices export during 2019-20 exceeded the fixed target both in terms of volume, rupee value and in dollar terms.
Against the export target of 10,75,000 MT valued at Rs 19,666.90 crores (US $2850.28 m) for the year 2019-20, at the end of the fiscal there was an increase of eight percent in volume, ten percent in rupee terms and eight percent in dollar terms.
Spices Board Secretary A. D. Sathiyan said the country has fulfilled the increasing international demand for its quality spices in the face of tough competition in the global market.
“In view of the global pandemic situation, the demand for quality Indian spices is on the rise for their immunity-boosting properties”, said Sathiyan.
During 2019-20, 225 spice items were exported, against 219 items in 2018-19.
In the basket of spices, chilli, mint products, cumin, spice oils, oleoresins, and turmeric continued to be the major items contributing 80 percent of the total earnings.
Though Indian spices are exported to 185 countries, China (24 per cent), the US (16 per cent), Bangladesh (six per cent), Thailand (five per cent), UAE (six per cent), Sri Lanka, Malaysia, the UK, Indonesia, and Germany are the major takers contributing over 70 percent to the export earnings.
Chilli continued to be the most in-demand spice in FY 2019-20 with exports of 4,84,000 tonnes amounting to Rs 6,221.70 crores, registering an increase of 15 percent in value.
Cumin was the second most exported spice, recording an increase of 16 percent in volume and 12 percent in value. A total volume of 2,10,000 tonnes of cumin valued at Rs 3,225 crore was exported from India in 2019-20.
The spice which showed the maximum increase as compared to the previous financial year was ginger, registering a 178 percent increase in volume and 129 percent in value at 50,410 tonnes and Rs 449.05 crores respectively.
The export of large cardamom went up by 28 percent in volume and 11 percent in value and 1,100 tonnes of the spice was exported crossing Rs 67.58 crores in value terms in 2019-20.