"Spice Exports Hit Record $4.72 Billion, Rise 6% on Strong Global Demand"
10-Jun-2025 05:58 PM
Kochi. Due to strong global demand for cumin, turmeric, spice oil / oleoresin and black pepper along with some other spices and spice producers, the total export of spices from India during the entire period of FY 2024-25 reached a new record level of $4.72 billion, which was 6 percent more than the total export of $4.46 billion in the financial year 2023-24. The interesting fact is that the export income of red chilli has declined, although it is the leading spice export from India in terms of both quantity and income. The share of red chilli in the total export of spices is more than 25 percent.
According to the data of the Spices Board, although the export quantity of red chilli increased by about 19 percent from 6.01 lakh tonnes to 7.15 lakh tonnes during 2024-25 as compared to the financial year 2023-24, but due to a sharp decline in the average unit export offer price, its total export income fell by 11 percent from $ 1.50 billion to $ 1.34 lakh.
On the other hand, the export of cumin, which is second in the category of spices, increased well and its export income improved by 5 percent from $ 700.37 million to $ 732.35 million.It is worth noting that India is the largest producer, consumer and exporter of spices in the world. Work is being done to double the export of spices in the next five years. The target of its export income has been set to increase it to $ 10 billion by the year 2030 and to $ 25 billion by the year 2047. For this, special emphasis is being laid on improving the quality of spices and increasing the export of value added spice products. The export quantity of spice oil/oleoresin increased by 12 percent from 4.12 lakh tons to 4.53 lakh tons and export income increased by 8 percent from 49.798 crore dollars to 53.592 crore dollars. Export income of turmeric jumped 51 percent from 22.60 crore dollars to 34.10 crore dollars and export quantity increased by 9 percent from 1.62 lakh tons to 1.76 lakh tons.