Spice Exports Grow by 6% in the First Half of 2024-25
Steady Growth in Export Volume and Revenue
India exported 0.79 million tonnes of spices during the first half of the 2024-25 financial year (April-September), earning $224 million. This marks a 6% increase in volume and a 9% rise in revenue compared to the same period last year, when 0.75 million tonnes of spices generated $205 million.Key Spices Driving Export Growth
Several spices recorded significant growth during this period:- Fennel: Exports surged by 138%, with 21,377 tonnes shipped, earning $5.92 million. This is a sharp increase from 22,352 tonnes, which generated $4.54 million last year.
- Dry Ginger: Shipments rose by 73%, totaling 19,192 tonnes, valued at $3.59 million, compared to 11,077 tonnes and $1.89 million a year ago.
- Cumin: Export volumes jumped by 67%, reaching 0.13 million tonnes, with revenue of $42.44 million, compared to last year’s 0.08 million tonnes, which earned $32.90 million.
- Tamarind: Exports grew by 62%, totaling 18,935 tonnes, worth $1.53 million, compared to 11,681 tonnes and $0.95 million last year.
- Fenugreek: Shipments increased by 53%, with 21,377 tonnes exported, generating $2.08 million, up from 13,990 tonnes and $1.43 million in the previous year.
- Small Cardamom: Exports rose by 37%, reaching 2,759 tonnes, valued at $6.19 million, compared to 2,015 tonnes and $3.30 million a year ago.
Challenges for Garlic and Coriander Exports
While several spices thrived, garlic and coriander faced declines:- Garlic: Exports dropped by 66%, with only 19,470 tonnes shipped, generating $2.67 million, down from 56,823 tonnes and $3.33 million last year.
- Coriander: Shipments fell by 59%, totaling 29,660 tonnes, valued at $3.71 million, compared to last year’s 71,931 tonnes, which earned $7.11 million.
Conclusion: Global Spice Influence on The Sector
Demand for spices like cumin, fennel, and tamarind remains strong, driven by growing global interest. However, exporters face challenges, including fluctuating freight costs and competition from other producing nations. Support through government export incentives could help maintain momentum and mitigate these hurdles in the months ahead.Click here to reach our trading platfrom CMBroker
