Indian spices export surge during April-May as chilli shipments gain 33%

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overcoming various bottlenecks, Indian spices and seasoning exports It recorded a 41 per cent increase in rupee terms during the first two months of the current financial year. According to a quick estimation, shipments of spices and seasoning products during April-May were worth ₹6,702.52 crore ($815.39 million) compared to ₹4,746.85 crore ($618.63 million) in the same period last year, an increase of 32 percent in value terms. dollars.

“Despite facing challenges, such as increase in domestic prices of chilies and cumin and lower/delayed demand due to economic pressures in some importing countries, the Indian spice sector, during FY23, showed great resilience in offering exports at par with the previous year. During FY23, India exported nearly $4 billion worth of spices (₹3,1761.38 crore), an increase of 4.74 per cent in rupee terms compared to FY22, said D Sathiyan, Secretary, Spice Council.

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China and the United States are major buyers

The value of spice exports during FY23 is estimated at ₹31,761.38 crore as against Rs.30,324.32 crore during FY22. The major contributors to the spice export basket by value were chili (33 per cent) and cumin or Jira (13 percent), allspice oil and oleoresin (13 percent), peppermint products (11 percent), turmeric (5 percent), curry powder (4 percent), cardamom (small) (3 percent), and pepper (2 percent), which collectively contributed to more than 80 percent of the total spice export earnings.

The main importers were China (20 percent), USA (14 percent), Bangladesh (7 percent), United Arab Emirates (6 percent), Thailand (5 percent), Indonesia (4 percent) and Malaysia (4 percent). , the United Kingdom (3 percent), Sri Lanka (3 percent), Germany (2 percent), the Netherlands (2 percent), Nepal (2 percent), and Saudi Arabia (2 percent) contributed more than 70 percent. percent of the spice export revenue. Among the top 11 destinations, exports increased to seven major destinations during FY23.

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The export performance for the month of April 2023 showed a significant increase over the previous year due to the increase in the export of spices, such as chili pepper, cumin, turmeric, fennel and garlic. The quantity exported was 1,43,523 tons compared to 1,19,534 tons in April 2022.

According to the quick estimation, the export of spices in the month of May was around Rs.