Record export growth of Indian spices in 2016-17
Indian spices and spice products surged to a record export growth worth Rs 17,664.61 crore ($2633.30 million) and a volume of 9,47,790 tonnes in 2016-17, sustaining their robust demand in international markets in the face of stiff competition.
The buoyancy in exports of spices and related products, both in terms of value and volume, compares favourably with figures of 8,43,255 tonnes valued at Rs 16238.23 crore ($2482.83 million) in 2015-16,thereby registering an increase of 12 per cent in volume,nine per cent in Rupee terms and six per cent in dollar terms, a Spices Board release said here on Wednesday.
Chilli continued to be the most demanded spice in the 2016-17 financial year with exports of 4,00,250 tonnes amounting to Rs 5,070.75 crore, registering an increase of 15 per cent in volume and 27 per cent in value.
Cumin was the second-most exported spice, recording an increase of 22 per cent in volume and 28 per cent in value. A total volume of 1,19,000 tonnes of cumin valued at Rs 1963.20 crore was exported from India in 2016-17.
The increase was largely due to mandatory checks on cumin and its byproducts implemented by the Spices Board in the backdrop of rapid alerts from importing countries.