Despite slowdown in major consuming markets, export of spices and spice products from India recorded an all time high both in volume and value in 2009-10 at 5,02,750 tonnes and Rs. 5,560.50 crore (USD 1173.75 Million) respectively, even as pepper exports to U.S. and EU dipped.
The exports during the previous fiscal was 4,70,520 tonnes valued at Rs. 5,300.25 crore (USD 1168.40 million), Spices Board Chairman V.J. Kurien told reporters here.
Compared to last year, the exports have shown an increase of seven per cent in volume and five per cent in rupee value.
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In Dollar terms, the increase is 0.5 per cent.
Kurien said India was targeting spices export of 5.25 lakh tonnes in 2010-11 valued at Rs. 6,000 crore (USD 1.3 billion). In April this year, the exports registered an increase of 40 per cent, he said.
The spices export during 2009-10 also exceeded the target both in terms of volume and value. Against the export target of 4,35,000 tonnes valued at Rs. 4,500 crore (USD 1,000 Million), the achievement is 116 per cent in quantity, 124 per cent invalue (in dollar terms, the achievement is 117 per cent), he said.
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Following fall in production and competition from Vietnam, pepper export has registered a decline of 22 per cent in volume and 24 per cent in value, Kurien said.
During 2009-10, India exproted about 19,750 tonnes of pepper valued at Rs 313.93 crore against 25,250 tonnes valued at Rs. 413.74 crore last year.Export of pepper to major markets like USA, EU have declined. Major US companies are keeping low inventories which resulted in low volume of exports.
USA continued to be a major market for Indian pepper, importing 8,525 tonnes, accounting for 43 per cent of the total export of pepper, Kurien said. The other major buyers are UK (1,600 tonnes), Canada (895 tonnes), Germany (880 tonnes), Italy (835) tonnes and Japan (600 tonnes).