Panaji, Jan 25 (UNI) Union Minister of State for Commerce Jairam Ramesh will inaugurate the 9th World Spice Congress, jointly organised by the Spice Board and the All India Spices Exporters Forum on January 28 in south Goa.
The theme of the Congress is Harmonisation-''The emerging global need''. About 150 delegates representing 36 countries and 250 Indian delegates will participate in the event.
The maximum number of foreign delegates are from United States. Many of these countries are major markets for the Indian spices and its products.
India occupies a prominent position in the world spice trade. In the estimated world trade of spices 8,50,000 tonnes valued at USD 2,200 million, India occupies a share of 44 per cent in quantity and 36 per cent in value. In terms of production too, India has an upper edge, as no other country in the world produces as many spices as India does.
The list vary from the hot spices like chilly, pepper, ginger to mild pungent and spicy items like cardamom, coriander, cumin and herbal spices like thyme, rosemary, mint and finally vanilla from the orchid family.
Annual production of these spices in recent years has gone well above four million tones. It is significant to note that only nine to ten per cent of the total production is exported and the rest is consumed domestically.
In 2002-03 India's total spices export was 2,64,107 tonnes valued at Rs 2086.71 crore. Export has shown a spectacular growth and by 2006-07 it has reached the level of 3,73,750 tonnes, valued at Rs 3575.75 crore.
The quantity of spices exported has showed a compound annual growth rate (CAGR) of nine per cent and the value realised has shown CAGR of 14 per cent. In comparison with 2005-06 export figures of Rs 2627.62 crore in terms of value and 3,50,363 tonnes in volume, the achievement in 2006-07 is higher by 36 per cent and seven per cent respectively.
UNI SRN DB SW RS1338