• search

Indian spice export cross $500 m to hit record high

Written by: Staff
|

Kochi, Jun 6 (UNI) Peppered by the high demand of value-added products, Indian spices exports crossed 500 million dollar-mark for the first time in history during the last fiscal, registering a growth of 4.3 per cent in rupee value, Indian Spices Board said.

The exports reached all time high of Rs 2295.25 crore (518 million dollar) with a volume of 3,20,527 tonnes during the year 2005-06 against 3,35,488 tonnes valued Rs 2200 crore (490 million dollar) in the previous year, according to the figures released by Board chairman V J Kurian here last night.

For the current year, we have fixed a target of Rs 2400 crore worth foreign exchange from the exports of spices. Efforts are on to make at least 50 per cent of chilly cultivation organic with an integrated pest management control to suit the rising scope for organic products,'' he said.

Despite record income, the overall volume decreased by 4.5 per cent, mainly due to fall in chilli exports. Thanks to an exceptional crop reduction in China, chilli exports stood 1,38,000 tonnes during the previous year. However, it came down to 1,13,250 tonnes during the last fiscal.

The country had set an overall target of 250,000 tonnes in volume and Rs 2100 crore (480 million dollar) in value for the year.

However, the achievement was 128 per cent in quantity and 109 per cent in rupee value, he said.

Value added projects like spie oils, oleoresins, mint products, curry prowders, blends and spice powders together contributed 66 per cent of the total volume. India earned foreign exchange worth Rs 575 crore from mint products alone while spice oils and oleoresins exports brought home another Rs 500 crore, Mr Kurian said.

America remained the largest market for Indian spices with 21 per cent share among the 130 countries, sending Rs 477 crore worth exchange to India while Malaysia, China and Britain remained on the second spot with 6 per cent each, he said.

MORE UNI JA DK1240

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X

Loksabha Results

PartyLWT
BJP+8346354
CONG+38790
OTH89098

Arunachal Pradesh

PartyLWT
BJP43034
JDU178
OTH2911

Sikkim

PartyWT
SKM01717
SDF01515
OTH000

Odisha

PartyLWT
BJD5062112
BJP101323
OTH6511

Andhra Pradesh

PartyLWT
YSRCP0150150
TDP02424
OTH011

-
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more