Spices register export growth of 5% in first half of FY 2016-17

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Kochi: Boosted by large shipments of nutmeg, mace, cumin and garlic, spices exports from India grew 5% in volume in the first half of the 2016-17 financial year and rose to Rs. 84,15.97 crores during the period, registering a 7% increase in value.

According to a press release from the Kochi based Spices Board, the Indian government regulatory and promotion agency for Indian spices, the total value of exports was Rs 7,892.65 crores during the corresponding period last fiscal year.

Export of spices rose to 4,37,360 tonnes during April–September 2016, compared to 4,14,780 tonnes in the first half of FY 2015–16.

Chilli became the most exported spice for the April–September 2016 period with the shipment of 1,65,000 tonnes, fetching Rs 2,307.75 crores. Garlic exports contributed substantially to the overall growth during the period, after rising 132% in value terms and 55% in quantity.

The exports of nutmeg and mace grew by 81% in quantity as compared to last year and saw a 69% increase in value. Cumin exports rose by 49% to 68,600 tonnes, as compared to 45,894 tonnes during the same period in the previous year.

Turmeric, apart from fennel and celery, also contributed significantly to the total spices exports during April – September 2016. The export of value-added products like curry powder and paste as well as spice oils & oleoresins also increased during the period.

Kerala Biz News

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