Govt imposes a minimum import price of Rs.500/kg on pepper
The Dollar Business Bureau In order to protect the interests of local pepper growers, the Government has cleared a proposal from the Spices Board to impose a minimum import price (MIP) of Rs.500 per kg on the spice. “The Ministry of Commerce and Industry has approved the proposal of the Spices Board for fixing the CIF value of Rs.500 per kg as MIP for pepper to protect the interests of pepper growers,” said an official statement. In recent times, decline in the domestic pepper price due to cheaper import of pepper from other origins has been a major concern among pepper growers, it said. The prices of pepper have declined by nearly 35% in a year and have led to a lot of hardship ...
Telangana to get a Spice Park in Nizamabad
The Dollar Business Bureau Upon receiving a proposal from the Telangana government for setting up Spice Park at Nizamabad, Telangana for turmeric, the Central Government has conveyed that the Spices Board would extend all technical support if land and funds for establishing the Spice Park is provided by the State. The Central Government has also approved the setting up of a Spice Development Agency (SDA) for Telangana with headquarters at Warangal for co-coordinating with the State / Central Agencies implementing programmes for research, production, marketing, quality improvement and export of spices, including chilli and turmeric. The Government implements several programmes for providing assistance to spice farmers, including Chilli and Turmeric farmers, which, on one hand aim at increasing production and ensuring remunerative prices ...
Spices exports touch all-time high of Rs.17665 cr in 2016-17
The Dollar Business Bureau The exports of spices and spice products from India have reached an all-time high of 9,47,790 tonnes, worth around Rs.17665 crores during 2016-17. This information was given by Commerce and Industry Minister Nirmala Sitharaman in a written response to the Lok Sabha on Monday. The shipments registered a growth of 12% in volume terms and 9% in value terms compared to a year ago. During 2015-16, the exports stood at 8,43,255 tonnes worth Rs.16238 crore. Sitharaman said that no target has been set by the government for export of spices as production and exports depend upon several factors like climate conditions, market forces, domestic and international demand. “Spices Board is implementing the “Export Oriented Production, Export Development & Promotion of Spices” Scheme wherein assistance is ...
Indias spices exports reach an all-time high in FY17
The Dollar Business Bureau India’s exports of spices and spice products surged 12% to an all-time high in terms of value and also in volume terms in the financial year 2016-17, a communication from the Spices Board on Wednesday revealed. India exported Rs.17,664.61 crore ($2633.3 million) worth of spice products in 2016-17. In terms of volume, it stood at 9,47,790 tonnes. In the fiscal of 2015-16, the spice products export stood at 8,43,255 tonnes in terms of volume and at Rs.16238.23 crore ($ 2482.83 million) in value terms. “India has surpassed all previous export records and has fulfilled the increasing international demand for its quality spices in the face of tough competition in global markets. More satisfying was the fact that the ...
Govt plans to merge all five commodity boards
The Dollar Business Bureau The government is planning to merge all the commodity boards and establish an umbrella organisation, a decision aimed at improving production and exports of crops such as coffee, tea and spices. The Ministry of Commerce pointed out that some of these commodity boards were established prior to independence, but their merger could harmonise their activities, leading to enhanced exports. The five commodity boards are responsible for output, development and outbound shipments of coffee, rubber, spices, tea and tobacco. “India has a huge potential to boost agri exports. One board will provide better services. So, we are working to form one specialised body with different verticals,” according to a senior commerce ministry. The Coffee Board was constituted in accordance with the Coffee ...
Spices exports grew 5% in volume terms during Apr-Dec 2016-17
The Dollar Business Bureau Supported by the huge shipments of cumin, mace, nutmeg and garlic, exports of spices from India recorded a 5% growth in volume in the first six months of the financial year 2016-17 and increased to Rs.8415.97 crore during the given period, witnessing a 7% increase in terms of value. The overall value of spices exports was Rs.7892.65 crore during the same period during the last financial year. Spices export surged to 4,37,360 tonnes during the period April-September 2016, against 4,14,780 tonnes in the corresponding period of FY 2015-16. “Chilli became the most exported spice for the April-September 2016 period with the shipment of 1,65,000 tonnes, fetching Rs.2307.75 crore,” according to a release by Spices Board on Wednesday. The exports of garlic contributed considerably to ...
Indian government to establish development agency in Kashmir to boost saffron exports
The Dollar Business Saffron is the most expensive spice in the world and is in great demand in the Middle East and Southeast Asia for its culinary and medicinal uses India’s Ministry of Commerce has approved the formation of the Saffron Production & Export Development Agency (SPEDA) to help boost development and promotion of saffron from India. Currently, saffron is counted among other spices in India and falls under the purview of the Spices Board of India. The move to set up an exclusive agency for saffron is expected to address numerous challenges that saffron farmers and exporters face in the valley, which is the main producing region of saffron in India. “The project will benefit all saffron farmers of ...
