India’s spice exports are on track to reach $10 billion by 2030, supported by increasing demand and strategic initiatives to boost production and quality. During the first half of FY24, spice exports were valued at ₹17,488 crore ($2.09 billion), representing an 8.8% year-on-year growth, according to Ramkumar Menon, chairman of the World Spice Organisation (WSO), who spoke at the National Spice Conference 2024 in Ahmedabad.
The export sector reached a record $4.46 billion during FY23-24, driven by higher prices for key varieties such as pepper, cardamom, and turmeric. Red chilli, which made up 34% of total spice exports, achieved a milestone of $1.5 billion in FY24—a 15% increase from the previous year—due to robust demand from China and Bangladesh.
China remains the largest importer of Indian red chillies, purchasing over 1.79 lakh tonnes valued at ₹4,123 crore in FY24, according to Kedia Advisory.
To meet the ambitious $10 billion target, India will need to produce around 15 million tonnes of spices. The Spices Board, under the Union Ministry of Commerce and Industry, is rolling out the ‘Sustainability in Spice Sector through Progressive, Innovative and Collaborative Interventions for Export Development’ (SPICED) scheme, with a budget of ₹422.30 crore. This initiative aims to enhance spice exports, improve cardamom productivity, and upgrade post-harvest quality.
Frozen spice products are being developed to diversify export offerings, but fresh spice varieties remain the dominant category.
With current trends and strategic efforts, India’s spice exports are projected to surpass $4.7 billion in FY24-25 and continue climbing toward the long-term $10 billion goal.
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