Spices export rises in Oct

Export of spices recorded a sharp rise in volume and value during October 2009 against the corresponding period a year ago. The surge in volume was supported by a sharp growth in prices of cardamom small and large, turmeric, fennel and vanilla. The price of turmeric almost doubled from Rs 49 a kg to Rs 82, while fennel prices moved up by 66% to Rs 85 from Rs 51 a kg previous year.

Spices exports rose 27% in volume to 41,585 tonnes (32,650 tonnes), while the rupee earnings rose by 9% to Rs 505 crore (Rs 463 crore).

The growth in value realisation in dollar terms was 14%. Similar comparisons with September, show that volumes increased 10%, rupee earnings increased 16% and dollar earnings 20%. Cardamom small, chilly, ginger, turmeric, garlic, nutmeg and mace, curry powder, spice oils and oleoresins all showed a jump in volume. During the month, the country exported 200 tonnes of cardamom small valued Rs 14.60 crore as against 50 tonnes valued Rs 2.08 crore during October 2008.

Export of chilli registered a 70% growth in volume and 84% growth in value. Chilli exports in October 2009 was up at 18,500 tonnes valued at Rs 125.34 crore against 10,750 tonnes valued at Rs 68.13 crore previous year.

The export of spice oils and oleoresins during the month increased to 600 tonnes valued Rs 62.88 crore from 500 tonnes valued Rs 59.10 crore, registering an increase of 20% in volume and six per cent in value. The export performance of spices like pepper, fennel and mint products was, however, not up to the expected level.

Taken from Business Line