Spices Board targets exports of $25 billion by 2047

Dharmendra Das, Director Growth of Spices Board, talking at a panel dialogue organised by UPASI in Coonoor.
| Picture Credit score: SATHYAMOORTHY M

The Spices Board is focusing on $25-billion price annual export of spices and spice-based merchandise by 2047 from $4.4 billion at present, mentioned its Director-Growth Dharmendra Das.

On the United Planters Affiliation of Southern India’s (UPASI) annual convention held in Coonoor not too long ago, Mr. Das mentioned that annual manufacturing of spices needs to be elevated to 17 million tonnes to satisfy India’s demand of about 13 million tonnes and export of two.7 million tonnes by 2047. India at present consumes 10 million tonnes and exports 1.42 million tonnes.

Ginger exports are the quickest rising with a CAGR of 27%, whereas the highest export earnings are from chilli ($ 1.1 billion), he mentioned.

The board will give attention to enabling sustainable, secure and chemical-free export provide chain and promote modern and value-added merchandise. The potential for exports shall be good for extracts, oleoresins, important oils, blends, powders, condiments, and so on., he mentioned.

There needs to be well-funded analysis and growth initiatives and measures to extend productiveness. One other important measure could be to advertise import substitution by identification, growth and cultivation of excessive oil content material styles of coriander; excessive curcumin styles of turmeric; and scaling up of saffron and asafoetida as per market demand,” he added.