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Spices Industry

Spices Industry In India

Introduction

India, known as the home of spices, boast a long history of trading with the ancient civilisations of Rome and China. Today, Indian spices are the most sought-after globally, given their exquisite aroma, texture, taste and medicinal value. India has the largest domestic market for spices in the world. Traditionally, spices in India have been grown in small land holdings, with organic farming gaining prominence in recent times. India is the world's largest producer, consumer and exporter of spices; the country produces about 75 of the 109 varieties listed by the International Organization for Standardization (ISO) and accounts for half of the global trading in spices.

Export Highlights and Key Markets

In FY20, spices worth US$ 3.62 billion were exported.
During FY19, a total of 1.10 million tonnes of spices and spice products valued US$ 2.80 billion was exported from the country as against 1.02 million tonnes valued US$ 2.78 billion in FY18, registering an increase of 7% in volume.
Top 10 importers of Indian spices in FY19 were US, China, Vietnam, Hong Kong, Bangladesh, Thailand, UK, UAE, Malaysia, and Sri Lanka.
During FY19, top 10 exported spices and spice products in terms of value were chilli, mint products, spice oils & oleoresins, cumin, turmeric, pepper, curry powder/paste, cardamom seeds, other spices like Tamarind, Asafoetida, and Cassia, and Garlic.
During FY19, India’s chilli export stood at 468,500 tonnes, cumin export at 180,300 tonnes, turmeric export at 133,600 tonnes and cardamom large export at 860 tonnes.
The total spices export during April 2020 to February 2021 was US$ 3.55 billion and for the month of February 2021 it was US$ 348.32 million.
In FY20 (till December 2019), ginger export showed the highest growth of 47% with 19,410 tonnes, followed by cardamom with 31% at 1,060 tonnes and cumin with 14% at 7,350 tonnes.

Spices Board of India

The Spices Board of India works towards the development and worldwide promotion of Indian spices. It provides quality control and certification, registers exporters, documents trade information and provides inputs to the central government on policy matters. The board participates in major international fairs and food exhibitions to promote Indian spices, apart from organising various domestic events.

Spices export value stood at US$ 3.65 billion in FY20, witnessing a growth of 10% y-o-y.

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