The export of Indian spices has gone up compared to last year, the authorities said Tuesday. Sustaining robust demand in international markets in face of stiff competition, Indian spices registered an export volume of 421,570 tonnes during April-September this year with their value pegged at Rs.6,962.86 crore ($1,152.08 million) as compared to 376,584 tonnes and Rs.6,364.64 crore respectively during the corresponding period in the last fiscal.

The Spices Board has won the prestigious "Niryat Bandhu" award, which Board chairman A. Jayathilak received from President Pranab Mukherjee Monday evening. Chilli, mint products, cumin, spice oils, pepper, turmeric, coriander, curry powder/paste and fenugreek contributed substantially to spice export basket as the demand for Indian spices surged at the global level.

"Spices export has been in tune with the targets set up by the commerce ministry for the current fiscal. As compared to April-September 2013, the export registered a growth of 12 percent and 9 percent in terms of volume and value, respectively," said Jayathilak.

Chilli continued to propel the growth story as India's largest exported spice, accounting for 161,000 tonnes in quantity and Rs.1,547.30 crore in value during April-September 2014. The export grew by 17 percent in quantity and 23 percent in value compared to the corresponding period in 2013. Mint and mint products (mint oils, menthol and menthol crystals) earned substantial foreign exchange worth Rs.1,463.25 crore through exports of 13,300 tonnes, emerging as a major money-spinning commodity in international spice markets.

Pepper, 'The King of Spices', contributed significantly to export earnings by bringing home Rs.514.86 crore with a corresponding export volume of 10,100 tonnes.Despite a minor dip, export of small Cardamom, stood at 1,295 tonnes that earned for the country foreign exchange worth around Rs.108.07 crore.

"The continued surge in demand for Indian spices speaks volumes of their quality, which meets stringent food standards prescribed by foreign countries. With the robust performance on export front, we are hopeful of meeting all the export targets during the remaining two quarters of the current fiscal," added Jayathilak.

Source:business-standard.com