India Outshines In Coir, Spices Export | SupportBiz


India Outshines In Coir, Spices Export

India has outshined in the Coir and Species export as per the latest reports from the respective boards. Indian spices and spice products surged to a record export growth worth Rs.17664.61 crore (US$ 2633.30 million) and a volume of 9,47,790 tonnes in 2016-17, sustaining their robust demand in international markets in face of stiff competition, informed ministry in press release on Friday. Coir sector (jute industry) have registered a tremendous growth with an all time high figure of Rs 2282 crore. With a major push of MSME Ministry and its nodal agency Coir Board, Coir exports are soaring at a speed.

The buoyancy in exports of spices and related products, both in terms of value and volume, compares favourably with figures of 8,43,255 tonnes valued at Rs.16238.23 crore (US$ 2482.83 million) in 2015-16, thereby registering an increase of 12 percent in volume, nine percent in rupee terms and six percent in dollar terms.

Chilli continued to be the most demanded spice in FY 2016-17 with exports of 4,00,250 tonnes amounting to Rs 5,070.75 crores, registering an increase of 15 percent in volume and 27 percent in value.

“India has surpassed all previous export records and has fulfilled the increasing international demand for its quality spices in the face of tough competition in global markets. More satisfying was the fact that the appreciable increase in exports came in the face of strict food safety regulations that now define and determine the international commodity trade,” said Spices Board Chairman Dr A. Jayathilak.

Increased global demand for turmeric, especially in the pharmaceutical sector, drove its exports to attain figures of 1,16,500 tonnes in volume and crossed Rs 1,241 crores in value terms in 2016-17.

Coir Board:

Coir exports stood at Rs 1116 crore in 2012-13, Rs 1476 crore in 2013-14, Rs 1630 crore in 2014-15, while showed a 20 per cent rise in value at Rs 1901 crore in 2015-16. The figures have now soared to whopping Rs 2282 crore in 2016-17. “We have accomplished so much in a very short time. We are bound to bring the Coir sector to Rs 20,000 crore industry in another 5 years”, said Coir Board Chairman C P Radhakrishnan.

The government is promoting jute product exporters under duty free Export Promotion Capital Goods (EPCG) scheme. Centre is working with Coir Board for increasing export of jute products.
The government has also initiated several schemes for the development of this industry – Coir Development Plan, Women Coir Plan, Coir Enterprises, being some of the prominent ones.

India produces and exports maximum jute in the world. China, US, Netherlands and South Korea are the chief buyers of Indian Coir products. The products majorly exported are Coir yarn, Coir mats, handloom matting, Coir rugs and carpets, and more. Globally, India’s share in Coir yarn is 70 per cent and 75 per cent in Coir producers.