Spices export in India is increased by 36 per cent to $2.04 billion in value terms in the financial year 2011-2012 due to increase in value realisation of spices, mainly chilli and pepper, says the PTI report. In the last financial year, India had earned foreign exchanged of $1.5 billion from spices exports, according to the latest data released by the Spices Board of India.
The shipment volume in the last fiscal rose by almost 10 per cent to 5.75 lakh tonnes from 5.25 lakh tonnes in the financial year 2010 -2011. The output from export of spices in terms of rupee rose by 43 per cent to Rs 9,783.42 crore in 2011-12 fiscal as against Rs 6,840.70 crore in the year-ago period.
The Spices Board fixed a target of earning forex revenue of Rs 6,500 crore ($1.45 billion) with a volume of 5 lakh tonnes in the last fiscal spices export. The earnings increased mainly due to the increased realisation from mint products, chilli, pepper and spice oils & oleoresins.
The export value of mint products rose by 31 per cent to Rs 2,223.72 crore in 2011-12 fiscal from Rs 1,696.79 crore in the 2010-11 fiscal, though there is a declination of 15 per cent in its volume to 14,750 tonnes from 17,450 tonnes in the same period. The unit value of mint produced rose to Rs 1,507.61 per kg last fiscal from Rs 972 per kg in 2010-11 fiscal. While chilli export earnings rose by 40 per cent to Rs 2,144.08 crore last fiscal from Rs 1,535.54 crore in the year-ago period. There was an average increase in the volumes to 2.41 lakh tonnes from 2.40 lakh tonnes in the reviewed period. Similarly, unit value of chilli increased to Rs 88.97 per kg as 2011-12 against Rs 63.98 per kg in 2010-11, added to the report.
The export output of spice oils & oleoresins rose by 43 per cent to Rs 1,304.38 crore in 2011-12 compared to Rs 910.62 crore in 2010-11, even though the export volume dip by 4 per cent to 7,265 tonnes from 7,600 tonnes in the same period. The unit value of spice oils & oleoresins, used in food and cosmetics, rose to Rs 1,795.43 per kg in 2011-12 from Rs 1,198.19 per kg in 2010-11.
There was enormous increase in the export valve of pepper by 129 per cent to Rs 878.13 crore in the last fiscal from Rs 383.18 crore in the year-ago period, while volume of shipments rose by 42 per cent to 26,700 tonnes from 18,850 tonnes in the same period. The unit value of pepper rose to Rs 328.89 per kg in 2011-12 as against Rs 203.28 per kg in 2010-11, according to the report.