"Spice Exports to Increase 6.5% per year Based on Demand Projections," says Spices Board Secretary

Over the last two years, India's spice exports have surpassed $4 billion, and demand is expected to grow at a CAGR of 6.5%. According to D. Sathiyan, Spices Board Secretary, this presents a huge opportunity for exports.

Spice exports account for approximately 10% of agricultural exports and 40% of horticulture sector exports. According to him, India's exports account for only 15% of total production, with the remainder consumed in the domestic market. He was speaking at the World Spice Organisation's two-day National Spices Conference 2022 in Mumbai, which was organised in collaboration with GIZ and IDH-the Sustainable Trade Initiative.

The Spice Board Secretary emphasised that developing harmonised global standards for spices through the Codex Committee on Spices and Culinary Herbs (CCSCH) will facilitate the global spice trade. To keep up with international market practises and preferences, the spice industry must evolve.

To maintain and strengthen our leadership in the global spice markets, the supply chain must be strengthened with the participation of Farmer Producer Organizations, and GI registrations must be increased (there are currently 26 GIs registered and 18 GI applications filed).

According to Ramkumar Menon, Chairman of the World Spice Organisation, the branded spice market is growing at a compounded annual rate of 10-15%, compared to 7-10% in the unorganised segment. "Through this conference, we hope to drive the message of food safety and quality standards to farmers while also assisting them in establishing better market linkages through farmer-producer organisations."

According to Inoshi Sharma, Executive Director-Regulatory Compliance, FSSAI, maximum residue limits (MRL) are one of the industry's and FSSAI's primary concerns. Complaints and suggestions/recommendations about the MRL setup should be directed to the Agriculture Ministry. The role of industry players in preventing adulteration is also important, and this can be accomplished by encouraging rapid product testing."

All stakeholders must work together to educate farmers about hygiene, pesticide safety, and other beneficial agricultural practises. "To facilitate effective communication, there is a need to strengthen synergy between sellers and producers," she added.