Flourishing Spice Export

Despite global geopolitical tensions, Indian spices continue to captivate the world market. The Spices Board of India's latest data reveals significant growth in spice exports during January 2024, marking a notable uptrend in the fiscal year 2023-24.

Export Trends

In January 2024, India exported 11,86,184 tonnes of assorted spices, showcasing an increase from the previous year's figures of 11,06,938 tonnes. Essential spices driving this surge include coriander, fennel, garlic, and red chilli. Conversely, certain spices like small and big cardamom, cumin, and fenugreek experienced a decline in exports during the same period.

Coriander, Fennel, Garlic And Red Chilli

The export of coriander witnessed a remarkable surge, with 93,756.56 tonnes exported during April-January 2023-24, compared to 36,823.43 tonnes in the previous fiscal year. Similarly, fennel exports soared to 35,691.33 tonnes during April-January 2023-24, compared to 19,140.61 tonnes in the previous fiscal year. Moreover, the export of garlic reached 47,329.03 tonnes during April-January 2023-24, compared to 68,532.69 tonnes in the previous fiscal year. Red chilli exports also experienced growth, with 4,25,199.90 tonnes exported during April-January 2023-24, compared to 3,78,183.71 tonnes in the previous fiscal year.

Declining Spices

Conversely, certain spices witnessed a decline in exports. For instance, small cardamom exports decreased to 4447.30 tonnes during April-January 2023-24, compared to 6447.89 tonnes in the previous fiscal year. Similarly, big cardamom exports decreased to 945.04 tonnes during April-January 2023-24, compared to 1541.88 tonnes in the previous fiscal year. Cumin exports also declined to 1,20,136.58 tonnes during April-January 2023-24, compared to 1,54,806.65 tonnes in the previous fiscal year. Fenugreek exports decreased to 23,480.70 tonnes during April-January 2023-24, compared to 30,715.76 tonnes in the previous fiscal year. Additionally, spices such as black pepper, turmeric, and tamarind also experienced comparatively lower export volumes.

In conclusion, the surge in spice exports during global tensions highlights the resilience and demand for Indian spices in the international market. While certain spices witnessed growth, others experienced a decline, reflecting evolving consumer preferences and market shifts. Moreover, we are attaching a table below for your ready reference.