H1 spice exports grow 24% by volume, 2% in ₹ terms

Kochi: Buoyed by surging demand for its quality spices in global markets, spices exports registered a 24 per cent increase in volume and 2 per cent in rupee terms in the April-September 2017 period, Spices Board said on Tuesday.

Data compiled by the board showed that India exported 5,57,525 tonnes of spices and spice products valued at Rs 8,850.53 crore in April-September 2017 as against 4,50,700 tonnes worth Rs 8700.15 crore in the corresponding period a year earlier.

In Dollar terms, India's exports of spices and spice products in the first half of the current fiscal were pegged at $1373.97 million as against 1299.96 million dollars in the same period in 2016, an increase of six per cent.

Spices Board Chairman Dr A Jayathilak said chilli, cumin, turmeric, cardamom, garlic and mint products have been among the most demanded Indian spices, meeting the increasing demand for quality spices in global markets.

"Moreover, the Board s efforts to promote these spices have resulted in an appreciable increase in their exports," he said in a release.

"What is satisfying is that India s exports of spices and spice products have been consistently moving up in the face of volatility in international markets and stringent food safety regulations imposed by countries across the globe," he said.

Chilli retained its position as the most demanded spice with exports of 2.35 lakh tonnes amounting to Rs 2,125.90 crore in value, as against 165,022 tonnes in the previous fiscal, an increase of 42 per cent in volume.