1-+SPICE+INDUSTRY - Introduction Out of the 109 spices...

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Introduction Out of the 109 spices listed by the ISO, India produces as many as 75 in its various agro climatic regions. India accounts for about 45% (2, 50,000 tons-2002-03) of the global spice exports, though exports constitute only some 8% of the estimated annual production of spices at 3.2 million tons (2002). Over all, spices are grown in some 2.9 million hectares in the country. Spice production in India, as much of the agriculture in the country, is undertaken in millions of tiny holdings and determine the livelihood of large number of the rural population. Spices exports have registered substantial growth during the last one decade. It has increased from 203398 tonnes valued MLN US $ 241million in 1995-96 to 350363 tonnes valued MLN US $ 593 million in 2005-06, registering an annual average growth rate of 9.4% in value terms. During the year 2006-07, the spices export from India has registered an all time high both in terms of quantity and value. In 2006-07 the export of spices from India has been 373,750 tonnes valued MLN US $ 793 million registering an increase of 34% in value over 2005-06. India commands a formidable position in the World Spice Trade with 47% share in Volume and 40% in Value. India's spices export is zooming. Exports of spices and spice products from the country during April-June 2008 have registered an increase of 23 per cent in terms of quantity and 28 per cent in terms of Rupee value. In Dollar terms the increase is 26 per cent. According to figures released by the Spices Board, the cumulative figures for April -June 2008 is estimated at 1, 48,550 tonnes valued at Rs.1375.05 Crores (US $ 329.60 million) as against 1,21,180 tonnes valued at Rs.1073.50 crores (US $ 260.57 million) in corresponding period last year. Spice oils and oleoresins including mint products contributed 35% of the total export earnings. Chilli contributed 24 per cent followed by cumin 11 per cent, pepper nine per cent and turmeric five per cent. Exports during June 2008 also registered increase with an export of 44,690 tonnes of spices valued Rs.446.73 crores (104.33 million US $) as against 38,960 tonnes valued
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Rs.382.77 crores (93.90 million US $) in June 2007. The major items exported during June 2008 are Chilli, Cumin, and Mint products, Spice Oils & Oleoresins, Pepper and Coriander. During Apr-June 2008, the export of Cardamom (Large), chilli, turmeric, coriander, cumin, fenugreek, garlic, other miscellaneous seeds, vanilla, curry powder, spice oils & oleoresins and mint products are higher in terms of both quantity and value as compared to the same period of last year. In the case of export of spices like Pepper, Cardamom (Small), celery and other miscellaneous spices have shown increase in value terms only. However, exports of ginger, fennel and nutmeg & mace have declined both in terms of
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This note was uploaded on 06/09/2010 for the course MARKETING mkt-505 taught by Professor Asadawan during the Spring '10 term at University of Management and Technology.

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1-+SPICE+INDUSTRY - Introduction Out of the 109 spices...

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