India’s spice exports rise 30% to reach Rs. 3,976.65 cr in Q1 2015-16


Kochi: Spice exports from India touched Rs. 3,976.65 crores ($626.81 million) during the first quarter of the financial year 2015-16 as compared to Rs. 3,059.74 crores ($511.22 million) in the corresponding period during 2014-15, registering a 30 per cent increase in terms of value in rupee.

With reference to the spices export target of Rs. 14,014.00 crores ($2,260 million) set for the FY 2015-16, the country has achieved 28 percent of its full-year export target in the first quarter itself.

Garlic, Pepper, Small Cardamom, Fenugreek, Nutmeg, Fennel and spice oils and oleoresins contributed substantially to the spice export basket during April-June of the current fiscal.

During the first quarter of FY 2015-16 volume of 215,215 tonnes was exported compared to 213,443 tonnes of the corresponding period last year.

“The substantial increase in exports in Q1 is the result of market promotion activities by Board to promote Indian Spices globally,” said Spices Board Chairman, Dr A Jayathilak.

Exports of pepper, known as the ‘King of Spices’, stood at Rs. 635.9 crores in Q1, marking an increase of 201 percent compared to the first quarter of 2014-15. In terms of volume, pepper recorded a growth of 148 percent in April-June 2015-16 compared to the corresponding period last year to reach 10,750 tonnes.

Around 3,725 tonnes of spice oils and oleoresins worth Rs. 564.65 crores were exported during April-June this financial year, recording an increase of 24 per cent in terms of volume and 40 per cent in terms of value from the same period last year.

Mint products (mint oils, menthol and menthol crystals) earned foreign exchange worth Rs. 455 crores through exports of 4,250 tonnes.

Fenugreek export reached a height of Rs. 65,94 crores for volume of 10,500 tonnes compared to Rs 27.26 crore for 5,922 tonnes of the first quarter of FY 2014-15, registering an increase of 142 % in terms of value .

Export value of Nutmeg and mace reached Rs 38.72 crores during April-June of the current financial year as against Rs 24.77 crores during the corresponding period of FY2014-15.

Exports of small cardamom touched Rs 91.69 crores, registering an increase of 142 per cent from the first quarter of last year.

Kerala Biz News


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