There has been an increase of about 25 percent in Indian spice exports on the basis of quantity in the initial quarter of the current financial year 2023-24. This information came from the latest data released by the Indian Spices Board.
This report highlights a significant surge in spice exports from India during the initial quarter of the fiscal year 2023-24. The export quantity of various spices, including red chilli, turmeric, coriander, cumin, and fennel, witnessed an impressive rise, contributing to a remarkable increase in export earnings. However, certain spices like black pepper, small cardamom, and dry ginger experienced a decline in exports due to weak international demand. The quantitative basis saw an upswing of 24.78 percent in spice exports, translating to an income increase of 25.61 percent compared to the same period in the previous fiscal year.
Table: Spice Exports in the First Quarter of FY 2023-24
|Spice||Export Quantity (Tonnes)||Export Income (INR Crore)|
Overall, the export of spices has shown a positive trend with substantial growth in both quantity and income, driven by high domestic market prices.