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Amidst the global economic slowdown, spices exports from India clocked $11.68 billion, all-time high in fiscal 2008-09.
According to the Spices Board Chairman V J Kurien, 4,70,520 tonnes of spices was exported from India that was valued at $11.68 billion (Rs 5,300.25 crore) as against 444,250 tonnes valued at $11.01 billion (Rs 4,435.50 crore) in the last fiscal.
Compared in terms of volume and value, it is visible there has been a substantial growth in 2008-09. In comparison to previous year, it has recorded a growth of 19 per cent in rupee value and six per cent in quantity. In terms of US Dollar, the increase is six per cent, Kurien said.
The export had also exceeded the target in terms of volume, rupee value and dollar terms of value. The export target for 2008-09 was 4,25,000 tonnes valued at Rs 4,350 crore ($1,025 million) for the year 2008-09, he said.
However, due to slowdown in exports as a result of recession, Kurien said that the board was anticipating exports worth Rs 4,500 crore only in 2009-10.
Already there has been a dip in volume of 20-25 per cent to all countries, he said adding the 6-7 months inventory level has been reduced to one month now. Even, the exports to the European Union have dropped down sharply.
The United States continues to be the singlest largest exporter from India (21 per cent), Malaysia (seven per cent), UAE (six per cent) and UK (five per cent).
June 10, 2009
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