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 ...
Spices Board urges exporters to use GI details
The Dollar Business Bureau In order to make sure the authenticity of Indian spices, the Spices Board is taking deliberate steps to provide them with the status of Geographical Indication (GI). The board is requesting the exporters to mention the GI tag before shipping the spices to prevent international exporters from taking advantage of the ‘Indian Spices’ tag, which several have been doing till now. Currently, there are eight varied varieties of Cardamom, Ginger, Pepper and Chilli that have got the GI status. The Spices Board, in a circular, has requested the exporters to provide details of GI registration on all the branded spice items shipped from the country. “As a step to make sure Indianness and to supply genuine Indian spices, the spice ...
Indias spices exports likely to reach a record high in FY2014-15
The Dollar Business Bureau | @TheDollarBiz Strong demand in international markets may help spices exports from India to reach a record high in FY2014-15, the Spices Board of India said during the release of export figures for April – July 2014 this week. According to the Spices Board, India has exported 2,71,280 tonnes of spices and spice products during April – July 2014, which is up about 10.2% from 2,46,060 tonnes exported during the same period last year. In rupee terms, earnings due to spices exports are up about 11% to Rs.4,339 crore (up from Rs. 3,892.72 crore in April – July 2013), while in term of USD, export earnings are up 6% to $721.02 million, up from $682.79 million earned ...
