Overall Growth in Spices Exports
In April 2024, India’s spices exports witnessed a notable increase, according to the latest data from the Spices Board. The exports grew by 7 percent in quantity and 14 percent in value compared to the previous year. This growth highlights the robust demand for Indian spices in international markets.
Big and Small Cardamom Exports Surge
The Spices Board’s data reveals that big cardamom exports saw the highest jump of 244 percent in quantity. In April 2024, India exported 152.39 tonnes of big cardamom worth $2,67 million. In comparison, April 2023 saw exports of 44.27 tonnes worth $0.50 million, marking a 436 percent increase in value.
Similarly, small cardamom exports increased significantly. In April 2024, 734.52 tonnes of small cardamom worth $13.52 million were exported. In the same month last year, 290 tonnes were exported, generating $5,06 million. This represents a 153 percent increase in quantity and a 167 percent rise in value.
Growth in Cumin, Tamarind, and Fennel Exports
Cumin exports also saw a substantial rise. In April 2024, India exported 39,182.42 tonnes of cumin worth $121,05 million. In April 2023, 17,084.88 tonnes were exported, earning $61.36 million. This indicates a 129 percent increase in quantity and a 96 percent increase in value.
Tamarind exports grew significantly as well. In April 2024, 4,661.58 tonnes of tamarind worth $2,97 million were exported. The previous year saw 2,139.79 tonnes exported, generating $1.65 million. This marks a 118 percent increase in quantity and a 79 percent rise in value.
Fennel exports also experienced growth. In April 2024, India exported 13,396.75 tonnes of fennel worth $14,15 million. In April 2023, 6,442.08 tonnes were exported, earning $11,04 million. This represents a 108 percent increase in quantity and a 28 percent increase in value.
Decline in Turmeric and Red Chilli Exports
Conversely, the export of turmeric and red chilli saw a decline. In April 2024, 14,109.09 tonnes of turmeric worth $26,11 million were exported. In April 2023, 19,590.86 tonnes were exported, generating $20.27 million. This shows a 28 percent decrease in quantity but a 29 percent increase in value.
Red chilli exports also decreased. In April 2024, India exported 43,472.28 tonnes of red chilli worth $35.55 million. In the same month last year, 53,834.09 tonnes were exported, earning $50,25 million. This marks a 19 percent decrease in quantity and a 29 percent decline in value.
The export data for April 2024 indicates a strong performance for several spices, with significant increases in both quantity and value for big cardamom, small cardamom, cumin, tamarind, and fennel. However, challenges remain for turmeric and red chilli exports, which saw declines in volume. Overall, the spices export sector shows a promising trend for the current financial year.