K. Venkiteswaran

Half of the target for the financial year achieved by August

26 per cent increase in terms of quantity

34 per cent rise in terms of rupee value

KOCHI: Spices exports has recorded a new high and the country has almost reached the half-way mark for the financial year by the end of August itself, sources in the Kochi-based Spices Board said here.

During August 2007, 32,605 tonnes of spices valued at Rs. 333.71 crore ($81.74 million) has been exported as against 30,427 tonnes valued at Rs. 311.87 crore ($66.99 million) in August 2006.

Cumulative value

The cumulative spices export during the period April-August 2007 is estimated as 1,87,000 tonnes valued at Rs.1725.09 crore ($421.16 million) as against 1,49,000 tonnes valued at Rs.1290.05 crore ($280.71 million) during the corresponding period of last year. Compared with last year, the exports have shown an increase of 26 per cent in terms of quantity and 34 per cent in rupee value (In dollar terms, the increase is 50 per cent). Spice oils and oleoresins including mint products contributed 40 per cent of the total export earnings. Chillies contributed 28 per cent followed by pepper, 11per cent, cumin 5 per cent and turmeric 4 per cent.

During April-August 2007, the export of pepper, cardamom (large), chillies, coriander, fennel, fenugreek, curry powder, spice oils and oleoresins, mint products and other spices such as tamarind, asafoetida was higher in terms of both quantity and value as compared to same period of last year. Export of cardamom (small) and nutmeg has shown increase in value alone. However, the export of cumin, celery, garlic, vanilla and other seeds declined both in terms of quantity and value.

Significant boost

During April-August 2007, 12,900 tonnes of pepper valued at Rs. 183.40 crore was exported as against 9,853 tonnes valued at at Rs. 81.99 crore last year, showing an increase of 31 per cent in quantity and 124 per cent in value terms. In the same period, 495 tonnes of cardamom (large) valued at Rs. 5.62 crore were exported as against 294 tonnes valued at at Rs. 3.37 crore last year.

Chillies’ export registered an increase of 86 per cent in quantity and 116 per cent in value terms. During the period, 88,000 tonnes of chillies valued at at Rs. 487 crore was exported.

The export of coriander seed during April-August 2007 has been 10,650 tonnes valued at at Rs.39.93 crore as against 7,966 tonnes valued at at Rs.29.73 crore of last year.

The export figure of fenugreek during April-August 2007 was 6,350 tonnes valued at Rs.17.23 crore, showing an increase of 89 per cent in quantity and 70 per cent in value terms. During April-August, the export of spice oils and oleoresins from India has been 2,790 tonnes valued at at Rs. 231.11 crore as against 2,550 tonnes valued at at Rs. 215.69 crore of last year.

The export of mint products has increased from 6,554 tonnes valued at Rs.391.64 crore in April-August 2006 to 7,100 tonnes valued at Rs. 458.45 crore in April-August 2007.

The export target for the year is 3,80,000 tonnes, valued at at Rs. 3600 crore ($875million).

Up to August, 1,87,000 tonnes valued at at Rs. 1725.09 crore ($421.16 million) have been exported.