September 2020 \ Business & Investment \ BUSINESS AND GOVERNANCE
Spices exports rise to Rs 21,515.4 crore

The exports of Indian spices and spice ...

The exports of Indian spices and spice products surged to Rs 21,515.4 crores (US$ 3,033.44 million) with a volume of 11,83,000 tonnes in 2019-20. The spices export during 2019-20 exceeded the fixed target both in terms of volume, rupee value and in dollar terms. Against the export target of 10,75,000 MT valued at Rs 19,666.90 crores (US $2850.28 m) for the year 2019-20, at the end of the fiscal there was an increase of eight per cent in volume, ten per cent in rupee terms and eight per cent in dollar terms.

Spices Board Secretary A. D. Sathiyan said the country has fulfilled the increasing international demand for its quality spices in the face of tough competition in the global market. “In view of the global pandemic situation, the demand for quality Indian spices is on the rise for their immunity-boosting properties”, said Sathiyan. During 2019-20, 225 spice items were exported, against 219 items in 2018-19. In the basket of spices, chilli, mint products, cumin, spice oils, oleoresins, and turmeric continued to be the major items contributing 80 per cent of the total earnings. Though Indian spices are exported to 185 countries, China (24 per cent), the US (16 per cent), Bangladesh (six per cent), Thailand (five per cent), UAE (six per cent), Sri Lanka, Malaysia, the UK, Indonesia, and Germany are the major takers contributing over 70 per cent to the export earnings.

Tags: spice

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