Kochi, May 26: India's spice exports have reached another milestone by crossing the one billion US dollar mark in 2007-08. During the financial year 2007-08, a total of 4,44,250 tonnes of spices and spice products valued Rs.4435.50 crores were exported from the country as against 3,73,750 tonnes valued Rs.3575.75 crores in the previous year.
The spices export in 2007-08 has also far exceeded the target fixed for the year, both in term of volume and value. Against the target of 3,80,000 tonnes valued Rs.3600 crores fixed for the year, the achievement has been 117 pr cent in volume, 123 per cent in rupee value and 126 per cent in dollar value.
"The export has reached a new peak in volume as well. Against last year's performance, the export has shown an increase of 19 per cent in volume, 24 per cent in rupee value and 39 per cent in dollar terms of value", said V J Kurian, Chairman, Spices Board, Kochi. During the year 2007-08, the export of pepper, chilli, seed spices like coriander, cumin, fennel, fenugreek and other seeds has shown substantial growth both in volume and value as compared to last year.
The export of value added products like curry powder, mint products and spice oils and oleoresins have also shown impressive growth in 2007-08.
However, the export of some of the items like cardamom (large), ginger, turmeric, celery, garlic and nutmeg and mace fell short of last year's performance.
In the case of cardamom small, the export value has gone up by 11 per cent in spite of a decrease of 23 per cent because of higher unit value realisation.
For vanilla, because of the competitive price advantage, the export volume has increased substantially by 60 per cent in 2007-08. However, the value has decreased by 11 per cent due to low unit value when compared to last year.