KOCHI, December 25: Reports of a general economic recession notwithstanding, export of spices, spice oils and oleoresins is poised to touch record levels this fiscal with pepper, tarmarind, cinnamon, asfoetida and cassia leading the way. More than 60 per cent of the export target for the fiscal has been achieved by October, say sources in the Spices Board.

Export target for this fiscal is 2,25,000 tonnes worth about Rs 1,200 crore and by the end of October, the country had exported 1,34,110 tonnes of spices worth nearly Rs 750 crore. This is 60 per cent of the quantity targeted and 62 per cent of the targeted value, Spices Board sources told The Financial Express.

During the same period last year, India had exported 62,814 tonnes of spices worth Rs 628.14 crore. This October, however, saw spices exports fall to 13,099 tonnes from last October's 15,933 tonnes. The value fall has been marginal from Rs 90.13 crore to Rs 90 crore. Despite this, there has been an overall increase of 7 per cent in quantity terms and 18 per cent in value terms during the first seven months of the fiscal.

Export of cardamom (small), ginger, turmeric, coriander, cumin, fennel, curry powder and other seed spice varieties, spice oils and oleoresins continued to increase in quantity and in value realisation during the period between April and October this year. Export of cardamom (large), chilly, celery, fenugreek, garlic and mint oils declined both in terms of value and quantity, Spices Board sources added.

Value-wise, pepper has recorded the best growth. 50 per cent increase in value realisation even with a drop in quantity of 18 per cent, is the highest for any type of spices for the current fiscal. This is owing to the high value realisation per unit. Pepper export during April-October was put at 21,400 tonnes valued at Rs 264.26 crore as against the 22,852 tonnes worth Rs 176.57 crore last year.

The average FOB price realised for pepper this year is Rs 170 per kilo against the average FOB price of Rs 80.29 per kilo last year. Pepper earned about 36 per cent of spices export earnings. This is followed by spice oils and oleresins (15 per cent) and chilly (13 per cent).

There was a steep fall in export of chillies between April and October this year in comparison to last year. The country exported 30,700 tonnes of chillies this year. It was worth Rs 95.09 crore. Last year, however, the export was to the tune of 32,726 tonnes worth Rs 139.34 crore, the sources said.

Spices Board sources also said that some spice items like coriander, cumin and fennel have reached the targets set for them for this fiscal. Coriander export was 17,600 tonnes worth Rs 48.35 crore during the first seven months while the target set was 12,000 tonnes.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.