Spices exports: forex revenue up

Spices Exports: Forex Revenue Up

Forex revenue from exports of spices and spice products from India during April-June, 2011, registered a rise of 21 per cent while the tonnage declined by 26 per cent, said a communication from the spices Board of India here recently.

A total of 116,900 tonnes of spices and spice products valued Rs.1885.24 crore (421.55 million dollars) had been exported during April-June 2011 as against 1,57,850 tonnes valued Rs.1,560.47 crore (342.28 million dollars) in 2010. In dollar terms, the increase in revenue is 23 per cent.

During April-June 2011, the export of pepper, cardamom (small), cardamom (large), ginger, turmeric, nutmeg and mace, and other spices like tamarind and asafoetida showed an increase both in volume and value as compared to April-June 2010.

However, in the case of spice oils and oleoresins, mint products and other seeds like mustard, ajwanseeds etc., exports increased in terms of value only.

The export of other spices had shown a decline both in volume and value as compared to the last year.

During April-June 2011, a total quantity of 5,750 tonnes of pepper valued at Rs.150.38 crore had been exported as against 4,750 tonnes valued at Rs.79.96 crore of last year. The unit value of pepper increased from Rs.168.35 per kg in April-June 2010 to Rs.261.52 per kg during April-June 2011.

During April-June 2011, a total of 590 tonnes of cardamom (small), valued Rs.58.19 crore as against 185 tonnes valued Rs.21.17 crore of last year, registering an increase of 219 per cent in quantity and 175 per cent in value.

During the period, a total quantity of 140 tonnes of cardamom (large) valued Rs.11.10 crore had been exported as against 55 tonnes valued Rs.2.89 crore of last year, registering an increase of 155 per cent in quantity and 284 per cent in value.

In the case of value-added products, the export of spice oils and oleoresins have registered an increase of 46 percent in value and in the case of mint products there is an increase of 51 per cent in value as compared to last year.

Compared to the spices export target of 5,00,000 tonnes valued Rs.6,500 crores (1,450 million dollars) fixed for the financial year 2011-12, the achievement of 116,900 tonnes valued Rs.1885.24 crore (421.55 million dollars) during April-June 2011 is 23 per cent in terms of quantity and 29 per cent in rupee and dollar terms of value, the release added.

Source: thehindu.com