Spices exports from India fell by 33 per cent in the first three months of the financial year 1998. For April to June 1998 the export volume came down to 50,635 tones from 75,830 tonnes in the previous year. Due to the steep fall in the Indian rupee, the foreign exchange earnings fell from spice exports fell by 13 per cent to $96.83 millions ($111.53 millions).
The export of cardamom (small), other spices, spice oils and oleoresins had increased both in terms of quantity and value during the period. Pepper continued to be the leader, accounting for 49 per cent of total spices exports. Despite registering a significant fall in volume, the value realised from pepper exports continued to grow. Pepper exports fell to 10,000 tonnes (14,382 tonnes) during April to June, realising Rs. 192.7 crores (Rs. 151.67 crores).
Spice oils and oleoresins were the second largest contributor to the export basket, accounting for Rs. 63.2 crores, or 16 per cent of the total spices exports. There was a significant growth in the export of spice oils and oleoresins from Rs. 46.14 crores during the corresponding quarter of last year. There was a significant fall in the volume and value of chillies exported from the country. Chilli exports fell to 9,000 tonnes (16,172 tonnes), even as the export realisation fell to Rs. 31.35 crores (Rs. 51.74 crores). However, they accounted for the third largest share in the export basket, accounting for eight per cent of the total spices exports in terms of value.
The export of cardamom (large), chilli, ginger, turmeric, coriander, cumin, celery, fennel, fenugreek, other seeds, garlic and curry powder, had, however, declined both in quantity and value during the period. In the case of exports of mint oil, there had been an increase in quantity to 550 tonnes (481 tonnes).
The US, Germany, Japan, Saudi Arabia, Kuwait, Bahrain and Israel are the main markets for spices. North America (USA and Canada) and Western Europe are the most important regions in terms of import demand for many of the spices. The former USSR was a main market of spices from India. Its disintegration and the formation of the CIS have affected spices trade because of trade deficits in the above countries along with negative balances of payment.
Mexico continues to be the major importer of cinnamon and cassia while Saudi Arabia, Bahrain, Kuwait and Israel are the major markets for green cardamom, black pepper, ginger and turmeric. The US continues to be the largest individual market for spices. The European Union is the next largest market. Germany is the single largest market in EU followed by France and the UK. In Asia, Japan is the major market and is the third largest in the world.
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