Sunday, July 21, 2024
spot_img

India’s spices exports hit record $4.46 billion in FY24, red chilli up by 15 pc

Date:

Share post:

spot_img
spot_img

 

New Delhi, June 18: The export of spices and its products reached an all-time high in FY 2023-24 at a record $4.46 billion making India a key player in the global trade.

The growth was seen owing to a rebound in volumes and higher prices for certain varieties such as pepper, cardamom and turmeric.

According to the latest data by the Spices Board under the Ministry of Commerce and Industry, the export of spices/spice products from the country has been 15,39,692 tonnes valued at Rs 36,958.80 crore ($4.46 billion) during FY 2023-24.

The red chilli exports hit a record $1.5 billion in FY24, a 15 per cent increase from the previous year’s $1.3 billion which is driven by robust demand from China and Bangladesh.

According to Spices Board data, red chilli export volume increased by 15 per cent in FY24 to 6.01 lakh tonnes from 5.24 lakh tonnes the previous year.

Red chilli exports, worth $1.5 billion, comprised about 34 per cent of India’s total spices exports.

China was the top importer of Indian red chillies in FY24, purchasing over 1.79 lakh tonnes valued at Rs 4,123 crore, according to Kedia Advisory.

This represents a 14 per cent increase in volume and a 21 per cent increase in value from 1.57 lakh tonnes worth Rs 3,408 crore in FY23.

Chilli exports to Bangladesh jumped by 67 per cent in FY24, reaching 90,570 tonnes, up from 53,986 tonnes the previous year.

“India’s red chilli exports have reached unprecedented heights in FY24, fueled by escalating demand from key importing nations. The surge in exports, especially to China and Bangladesh, reflects the growing recognition and preference for Indian spices worldwide,” Kedia Advisory said.

–IANS

spot_img
spot_img

Related articles

Bangladesh-o jachanggipa student-rangko rimbakuenga

SHILLONG: Bangladesh-o golmalrang ong·enganio Meghalaya a·dokoni aro gipin a·dokrangoni chatro chatrirang baksa rimba-pilaniko dakangkuenga aro Meghalaya a·dokni chatro...

Niamgri skigiparangko rakkiani mamlao matnangatgipa dolgipinrangba ra·gapila

TURA: West Garo Hills-o Rajabala Higher Secondary School-o niamgri skigiparangko rakkiani mamlao dolgipin jemangan Robibar salo matnangataniko dakaha...

Hindi skigipako rakkianio tik ong·janina AHAM matnanga

Rongjeng: East Garo Hills District-o Nongchram Deficit UP School-o skigipako rakkianio tik ong·gijanina maio uamang matnangatachim uano Swapnil...

NALSA-ni bidingo Legal Awareness Programko ong·ata

Shillong:  NALSA (Legal Services to the victims of drug abuse and the eradication of the drug Menace) Scheme...