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India exported Rs 21,515 crore of spices, spice products in FY20’

Date: 21-08-2020
Subject: India exported Rs 21,515 crore of spices, spice products in FY20’
India exported 11,83,000 tonne of spices and spice products during the last fiscal to realise Rs 21,515.4 crore, state-run Spices Board said. In dollar terms, the export value stands at $3,033.44 million. The spices export during 2019-20 exceeded the fixed targets in terms of volume, rupee value and dollar value.

During 2019-20, 225 spice items were exported, against 219 items in 2018-19. Chilli, mint products, cumin, spice oils & oleoresins, and turmeric continued to be the major contributors in the spices basket, contributing 80% of the total earnings. Though the Indian spices are exported to 185 countries, China with 24% and the US with 16 % are the major consumers. Chilli continued to be the most demanded spice in FY20 with exports of 4,84,000 tonne amounting to Rs 6,221.70 crore, registering an increase of 15% in value.

Cumin was the second-most exported spice, recording an increase of 16% in volume and 12% in value. “India has fulfilled the increasing international demand for its quality spices in the face of tough competition in global markets. In view of the global pandemic situation, the demand for quality Indian spices is on the rise for their immunity-boosting properties”, said Spices Board secretary D Sathiyan.

The spice which showed the maximum increase as compared to the previous financial year was ginger, registering a 178% increase in volume and 129% in value at 50,410 tonne and Rs 449.05 crore, respectively.

Source:- dinancialexpress.com

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