Slight decline in spice exports due to red chilli
12-Sep-2024 11:32 AM
Kochi. The latest data of the Spices Board shows that during the first quarter of the current financial year i.e. April-June 2024, the export income of spices could reach only $ 1.152 billion,
which was slightly less than the export income of $ 1.164 billion in the same months of the year 2023. The main reason for this is a huge decline of 29 percent in the shipment of red chilli.
According to the Spices Board, red chilli is the most prominent spice in terms of export quantity and income. In April-June 2024, only $ 265 million could be earned from its export, which was 29 percent less than the export income of $ 376.67 million received during April-June 2023.
In terms of quantity also, the export of spices got stuck at around 1.14 lakh tonnes, down 17 percent from 1.37 lakh tonnes during the period under review.
Due to weak demand in China and Bangladesh, the two top buyers of Indian red chilli, exports of this important spice declined.
However, the decline in the export of red chilli was largely compensated by spices like cumin, turmeric, black pepper and cardamom.
During the period under review, the export income of cumin increased by 13 percent from $ 223 million to $ 251 million and the export quantity jumped 46 percent from 53399 tons to 78087 tons.
However, during this period, the export of turmeric declined by about 20 percent from 57557 tons to 46497 tons, but due to the offer price being very high, its export income jumped 44 percent from $ 6292 million to $ 9057 million.
Export of black cardamom increased by 40% from 247 tons to 346 tons while its export earnings jumped 179% from 23.30 lakh dollars to 64.90 lakh dollars.
Similarly, export quantity of small cardamom increased 68% from 1059 tons to 1782 tons and export earnings jumped 107% from 167.70 lakh dollars to 347.10 lakh dollars.
Export of black pepper increased 14% from 4174 tons to 4750 tons and export earnings jumped 26% from 205.20 lakh dollars to 259.10 lakh dollars.
Apart from this, export of fennel and tamarind also increased but export of coriander and garlic registered a huge decline.