Spices exports up 10% to $3.7 billion in 2019-20

Spices exports up 10% to $3.7 billion in 2019-20

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 India's exports of spices grew by 10 per cent to $ 3.7 billion (about Rs 28,100 crore) in 2019-20 on account of healthy demand in developed as well as developing countries' markets.

The exports stood at $ 3.32 billion in 2018-19, according to Commerce Ministry's data.

According to experts, ginger and cardamom helped a great extent to push up the country's exports of spices.

"Owing to good agricultural practices, 2019-20 saw a hike in ginger and cardamom produce and thus better pricing. India's ginger exports registered a 47 per cent exports growth mainly exporting to Bangladesh, 1.8 times higher than last year value at $ 32.2 million, and to Morocco, where rise in exports went from $ 2 million to $ 13 million," Trade Promotion Council of India (TPCI) Chairman Mohit Singla said.

He said there is huge potential for the country to further grow exports of spices.

The main spices which India exports include chilli, mint, cumin, spice oil, curry powder, pepper, coriander, fennel, garlic,  fenugreek, nutmeg, and celery.

The outbound shipments of value added products like curry powder/paste, spice oils and oleoresins have also registered healthy growth in volume and value during the period.

During 2018-19, a total of 11,00,250 tonnes of spices and spice products were exported as against 10,28,060 tons in 2017-18.

The major markets for these commodities are the US, China, Vietnam, Thailand, Bangladesh, UAE, UK, Malaysia, Sri Lanka, Indonesia and Germany.

The other agri commodity which recorded positive growth in 2019-20, as per the ministry's data, was oil seeds (13.8 per cent to $ 1.32 billion).

However, other key agri commodities including tea, coffee, rice, tobacco, cashew, fruits and vegetables registered negative growth during the fiscal.