India’s spices exports jumped by 32% and stood at $1.39 billion in the April-November period of the current financial year. As per data compiled by the Spices Board of India, volume of spices exports rose by 28% in April-November period year-on-year. The spices exports rose by 32% in the first eight months of the current fiscal in terms of US dollar value while in rupee term the jump was 46%. This was due to a sharp depreciation in the value of rupee.
During April-November 2013 period, the exported quantity of spices jumped to 508,555 metric tonne (MT) as compared to 398,000 MT recorded in the same period in the previous year. The mint basket with products such as mint oils, menthol and menthol crystals ruled the roost with an export of 15,850 MT and earned a sum of Rs 1975.17 crore. It showed an increase of 129% in volume and 62% in value when compared to the export of 6,916 MT during the same period in the previous year, which fetched Rs 1,222.99 crore.
Pepper and Turmeric have asserted their prominent position in the spices export arena with an export value of Rs 572.26 crore and Rs 408.28 crore respectively. Coriander recorded Rs 235.57 crore enjoying a 119% increase in value while Small Cardamom, popularly known as ‘The Queen of Spices’, accounted for 1805 MT, valued at Rs 144.35 crore. Fennel showed great promise with exports of 13,100 MT in volume, valued at Rs 116.40 crore.