Spices Board sets export turnover target of $3 bn by 2016-17

NEW DELHI: The government is looking to achieve a turnover of $3 billion from spices export by the end of the 12th Five Year Plan (2012-17).

MR Sudharshan, Spices Board Director (Marketing), said, “The Spices Board has set the target of achieving a turnover of $3 billion by the end of the 12th Five Year Plan.”

During a discussion,being organised by industry body PHD Chamber of Commerce and Industry (PHDCCI), Sudharshan focussed on enhancing export of Indian spices. At present, the turnover from spices export is about $1.5 billion annually.

India exports 3.2 million tonnes of various spices, which constitutes almost 50 per cent of the global trade.

During the 2010-11, the country had exported 5,25,750 tonnes of spices and spice products valued at Rs 6,840.71 crore ($1,502.85 million).

The spices demand is ever increasing on the back of rising consumption and is mulling to expand its export basket by introducing more value added products.