fluctuating prices impact turmeric exporters in erode, India

Slow exports growth on leading Spices worry turmeric exporters in India & others

February 18, 2016
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There is a great global slow down due to various factors that lead to declining of commodity prices globally. This also impacted  high demand spices from India. Chilli, Jeera ( which is also called cumin seeds ) & turmeric exporters in India got affected in the concurrent years.

DGCIS – Directorate General of Commercial Intelligence and Statistics data reported that growth of exports went to 25% in 2011-12 (8,58,200 tonnes of spices – highest in the last five years (2010-2015)) but whereas exporters growth is just 3% in 2014-15. It also reported spices exports from India increased to 9,23,271 tonnes by surging 34 percent in 2014-2015 comparing to 6,88,394 tonnes in 2010-2011.

Exporters in India believe that spices like Chilli, Jeera & turmeric exports would marginally increase and will not attain any noticeable growth due to decline of exports in India to a 14th-month straight fall of 13.6% in Jan 2016

Good demand for chilli, Jeera & turmeric exports in India is fluctuating as the prices fluctuate creating an impact on the other spices. Chilli & turmeric exporters in India are so positive about the upcoming year as the domestic market responds with reasonable price that could boost chilli & turmeric exports.

Mr. Bhaskar Shah – Vice- Chairman of Spice Board and chairman of Indian Spice & Foodstuff Exporters Association (ISFEA) said that spices exports from India might cross 9,50,000 tonnes in the year 2015-2016.

In the month of April & October 2015, Total spices exported from India stood at 4,90,847 tonnes comparing to 2014’s 4,90,831 tonnes.

Indian export of Spices
Year Qty (Tonnes) %Change (QTY) Value ($ Millilon) %Change (Value)
2010-11 688394 14 1734 38
2011-12 858200 25 2726 57
2012-13 932592 9 2786 2
2013-14 896565 -4 2497 -10
2014-15 923271 3 2429 -3
2015-16 (Apr to Oct’15) 490832 1470

Source: DGCIS & Business Standard.

Spices Export
Year Qty (Tonnes) %Change (QTY) Value ($ Millilon) %Change (Value)
2014-15 (Apr to Oct’14) 490847.51 1470.07
2015-16 (Apr to Oct’15) 490831.98 -0.003 1469.92 -0.01

Source: DGCIS & Business standard.

 

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