Despite of a decline in the total export in the Country, Indian spices exports have been able to record strident gains in both volume and value in Rupee terms. It is first time in the history of Spices export the growth in volume registered an all time growth of 22%. Spices exports have registered substantial growth during the last five years, registering an annual average growth rate of 21% in value and 10% in volume and India commands a formidable position in the World Spice Trade
During the 2012-13, a total of 6,99,170 tons of spices and spice products valued Rs.11171.16 crore (US$2040.18 Million) has been exported from the country as against 5,75,270 tons valued Rs.9783.42 crore (US$ 2037.76 Million) in 2011-12, registering an increase of 22% in volume and 14% in rupee terms of value.
Compared to the target of fixed 5,66,000 tons valued Rs.8203.50 crore (US$1650 million) for the financial year 2012-13, the achievement is 124% in terms of quantity and 136 % in rupee and 134% dollar terms of value. During this period, the achievement in export earning is high and it is mainly due to the rigorous focus and initiatives taken by the Board for value addition and higher end processing of Spices.
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