Indian Spices Exports Increase by 23% to USD 359 million in June: ASSOCHAM

Published 2020년 7월 21일

Tridge summary

India's spices exports experienced a 23% increase in June 2020 compared to the same period last year, reaching USD 359 million (around Rs 2,690 crore). Despite a domestic price surge of nearly 12%, the headline CPI inflation remained low. The forex advantage resulted in a 34% increase in realisations for spice exporters, amounting to Rs 2,721 crore in June 2020. However, overall exports in June 2020 saw a decline of 12.41% to USD 21.91 billion. Major spices exported include pepper, cardamom, ginger, turmeric, coriander, cumin, celery, fennel, fenugreek, nutmeg, spice oils and mint products. The US, UK, Germany, France, Italy, Canada, Australia, UAE, Iran, Singapore, China and Bangladesh are the primary importers.

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Original content

India's spices exports rose by 23 per cent to USD 359 million (around Rs 2,690 crore) in June 2020 from USD 292 million (Rs 2,190 crore) in the same month last year, ASSOCHAM said on July 19. A dipstick study by the chamber also noticed how the rising demand for spices in the domestic market led to a sharp increase in their prices by almost 12 per cent in June whereas the headline CPI inflation was half that level. In domestic currency, thanks to forex advantage, spices exporters raked in even better realisations which rose by 34 per cent to Rs 2,721 crore in June 2020 from Rs 2,030 crore in the comparative month a year ago, the industry chamber said quoting official data. The country's exports in June 2020 stood at USD 21.91 billion, as compared to USD 25.01 billion in June 2019, exhibiting a contraction of 12.41 per cent. In rupee terms, exports were Rs 1,65,898.85 crore in June 2020, as s compared to Rs 1,73,682.55 crore in June 2019, registering a decline of 4.48 per cent, ...

Source: Krishi Jagran