Exports of spices may fall

Exports of spices during the current fiscal are likely to come down by 20-25% from the record performance of Rs 5,300.25 crore in 2008-09, VJ Kurian, chairman, Spices Board said. Deceleration in exports is being felt across all spices as buyers are opting for minimal inventory in Europe and US, he said. "Exports to Europe have been the worst hit. Rupee value realisation has dropped by 7% in April and we are hoping to touch Rs 4,500 crore in 2009-10," he added. Chilli exports are also likely to come down a bit in the current fiscal with the Chinese crop recouping the losses of the previous years, board sources said.

The last fiscal was extremely good for spices as exports touched 4,70,520 tonne in volume and in US dollar terms the value fetched was $1,168.40 million (Rs 5,300.25 crore). In 2007-08, exports stood at 4,44,250 tonne valued at $1,101 million (Rs 4,435.50 crore). Compared to last year, the exports have shown an increase of 19% in rupee value and 6% in volume. In dollar terms, the increase is 6%, Kurian said. The export had also exceeded the target in terms of volume, rupee value and dollar terms of value. The export target for 2008-09 was 4,25,000 tonne valued at Rs 4,350 crore ($1,025 million). The US continues to be the single largest exporter from India (21% ), Malaysia (7% ), UAE (6% ) and UK (5%). Mint products contribute 40% of the export earnings. Chilli's share stands at 20%, followed by cumin with 10%, pepper with 8% and turmeric with 5%.

Pepper exports from the nation have come down with US buying lesser pepper in the last fiscal. During 2008-09, pepper exports stood at 25,250 tonne valued at Rs 413.74 crore, registering a decline of 28% in volume terms and 20% in value terms.

Chilli exports during the last fiscal stands at 1,88,000 tonne valued at Rs 1,080.95 crore as against 2,09,000 tonne valued at Rs 1,097.50 crore in 2007-08.

Cumin exports for the last fiscal stand at 52,550 tonne valued at Rs 544 crore. Coriander exports were to the order of 30,200 tonne valued at Rs 203.79 crore.Curry powder exports during the last fiscal registered an increase of 15% in volume and 48% in value to touch 11,500 tonne valued at Rs 163.75 crore.