India's April-February spice exports top $1-billion despite the slump

07 April 2009

Spices exports from the country crossed the $1 billion-mark in the first eleven months of the current financial year despite the slowdown in global trade. Spices export during the period also hit an all-time high in terms of rupee value at Rs4590.50 crore.

India exported 395,775 tonnes of spices worth an estimated value of Rs4590.50 crore ($1020.95 million) during April-February 2008-09 as against 386,875 tonnes valued Rs3950.50 crore ($980.90 million) in the corresponding 11 months of the last financial year.

Export of spices from the country increased by 16 per cent in rupee value and 4 per cent in dollar terms. Quantity-wise exports grew 2 per cent.

Spice oils and oleoresins, including mint products contributed 43 per cent of the total export earnings. Chilli contributed 21 per cent, followed by pepper 8 per cent, cumin 7 per cent and turmeric 5 per cent.

During April-February 2008-09, export of most of the major spices have shown an increasing trend, both in terms of quantity and value as compared to the same period last year. However, export of pepper has declined both in terms of quantity and value as compared to last year. During the period, export of chilli, ginger and mint products have declined in quantity only.    

Pepper exports from India during April-February 2008-09 fell to 23,350 tonnes valued Rs384.10 crore as against 31,760 tonnes valued at Rs466.26 crore last year. The average export price of pepper has gone up from Rs146.81 per kg in 2007-08 to Rs164.49 per kg in 2008-09. The low inventory in the major international markets due to the economic recession is reported to be the major reason for the decline in export of pepper.