Exports of spices, spice products fall in volume in FY16

Kochi, July 5: Spices and spice products exports from India during the last financial year recorded a decline in volume terms, while registering an increase in value and dollar realisation. Exports declined by 6 % to 843,255 tonne valued at R16,238.22 crore against 893,920 tonne valued atR14899.67croreinFY15.Dollar realisation increased marginally by 2% to $ 2,482.83 million from $2,432.84 million in the previous financial year.

Mint products (mint oils, menthol and menthol crystals),cumin,coriander,ginger and large cardamom exports have registered a decline in volume terms.

Chilli exports have remained flat at 347,500 tonne in FY 16 against 347,000 tonne in thepreviousyear.Thevalueof chilli exports has increased 12% to R3,931.7 crore from R3,517.1 crore. India is the world leader in chilli production followed by China and Pakistan. India is contributes close to 45% to the global output, with an annual production of 12-14 lakh tonne.

Mint product exports have declined substantially from the export basket by 18% in terms of volume and 4% in terms of value year-on-year. Exports of mint products stood at 21,150 tonne in FY16 valued at R2,577.59 crore against 25,750 tonne valued at R2,689.25 crore in FY15. Accordingtothestate-runSpices Board, India is one of the world’s largest producers of mint oil and exports nearly 80%of itsproduce.TheSpices Board said that the bulk of the exports is in the form of crystallised menthol. China is a major importer of the crystallised form and re-exports it after value-addition. Mentha oil is derived from a plant named mentha arvensis, or common mint.

Ginger exports declined by 39% in volume and 18% in value to touch 24,800 tonne valuedatR270.62croreduringthe period.