India's spice export annual report data

India released its annual report on spice exports, and both the export value and the export volume increased. Ginger has the fastest growth rate, while spice extracts, peppermint and peppermint products have the highest added value.

According to news from the Indian Council for the Promotion of Trade on August 20, the Spices Board in Cochin, India released data that India’s spice exports in the 2019-20 fiscal year reached 215.15 billion rupees, and the export volume was 1.183 million tons, both up year-on-year.

In the 2018-19 fiscal year, the export value of Indian spices was 195.06 billion rupees and the export volume was 1.1 million tons. The export value and export volume in the 2019-20 fiscal year increased by 10% and 7.52% respectively. In US dollars, India’s spice exports in the 2019-20 fiscal year were US$3.033 billion, a year-on-year increase of 8%.

The Spices Committee of India stated that the export value and export volume of the latest fiscal year both exceeded the expected targets, indicating that despite fierce competition, Indian spices are still popular in the international market.

Statistics show that in the 2019-20 fiscal year, India exported 215 types of spices, slightly less than the 219 types in the previous fiscal year.

As far as products are concerned, chili, peppermint products, cumin, spice oil, oleoresin and turmeric are still the main force of Indian spice exports, accounting for 80% of the total.

In terms of exporting countries, Indian spices are exported to 185 countries around the world. Among them, China (24%), the United States (16%), Bangladesh (6%), Thailand (5%), the UAE (6%), Sri Lanka, Malaysia, the United Kingdom, Indonesia, Germany, etc. are the main buyers, contributing more than 70% of export revenue.

In the 2019-20 fiscal year, Indian chili is still the most demanded spice in the international market, with an export volume of 484,000 tons and an export value of 62.22 billion rupees, a year-on-year increase of 15%. Cumin is the second most in demand spice, with an export volume of 210,000 tons, an increase of 16% year-on-year, and an export value of Rs 32.25 billion, an increase of 12% year-on-year.

D Sathiyan, Secretary-General of the Spices Committee of India, said: “Due to the global epidemic, thanks to their immunity-enhancing properties, the market demand for high-quality spices in India continues to rise.”

The fastest growing spice is ginger, with an export volume of 50,400 tons and an export value of Rs 4.49 billion, an increase of 178% and 129% year-on-year.

The export volume of caramom increased by 28% year-on-year to 1,100 tons, and the export value increased by 11% to 676 million rupees.

The export of curry powder and curry paste also increased, with an export value of 8.34 billion rupees and an export volume of 38,200 tons, an increase of 12% and 13% respectively year-on-year.

The Spices Committee of India stated that India is the world's leading exporter of high-end and high value-added products such as spice extracts, peppermint and peppermint products. These high value-added products grew steadily in the 2019-20 fiscal year. Thanks to their high unit prices, their exports accounted for 30% of total exports.

Celery and cilantro, fenugreek, mustard seeds and other seed spices also accounted for a large proportion of exports in the 2019-20 fiscal year.