Record export growth of Indian spices in 2016-17

Deccan Chronicle – Jun 14, 2017

Indian spices and spice products surged to a record export growth worth Rs 17,664.61 crore (USD 2633.30 million) and a volume of Rs 9,47,790 tonnes in 2016-17, sustaining their robust demand in international markets in the face of stiff competition.

The buoyancy in exports of spices and related products, both in terms of value and volume, compares favourably with figures of 8,43,255 tonnes valued at Rs 16238.23 crore (USD 2482.83 million) in 2015-16,thereby registering an increase of 12 per cent in volume,nine per cent in Rupee terms and six per cent in dollar terms, a Spices Board release said here today.

Cumin was the second-most exported spice, recording an increase of 22 per cent in volume and 28 per cent in value. A total volume of 1,19,000 tonnes of cumin valued at Rs 1963.20 crore was exported from India in 2016-17.

Chilli continued to be the most demanded spice in the 2016-17 financial year with exports of 4,00,250 tonnes amounting to Rs 5,070.75 crore, registering an increase of 15 per cent in volume and 27 per cent in value.

The increase was largely due to mandatory checks on cumin and its byproducts implemented by the Spices Board in the backdrop of rapid alerts from importing countries.

A Detailed information is available at http://www.deccanchronicle.com/business/companies/140617/record-export-growth-of-indian-spices-in-2016-17.html

India’s spice exports rise 12% to record all-time high in value and volume in 2016-17

Business Standard – June 16, 2017

Meeting stringent food safety regulations imposed by countries across the globe, Indian spices and spice products surged to a record export growth worth Rs.17664.61 crore (US$ 2633.30 million) and a volume of 9,47,790 tonnes in 2016-17, sustaining their robust demand in international markets in face of stiff competition.

The buoyancy in exports of spices and related products, both in terms of value and volume, compares favourably with figures of 8,43,255 tonnes valued at Rs.16238.23 crore (US$ 2482.83 million) in 2015-16, thereby registering an increase of 12 per cent in volume, nine per cent in rupee terms and six per cent in dollar terms.

Chilli continued to be the most demanded spice in FY 2016-17 with exports of 4,00,250 tonnes amounting to Rs 5,070.75 crores, registering an increase of 15 per cent in volume and 27 per cent in value.

Cumin was the second-most exported spice, recording an increase of 22 per cent in volume and 28 per cent in value. A total volume of 1,19,000 tonnes of cumin valued at Rs.1963.20 crore was exported from India in 2016-17. The increase was largely due to the mandatory checks on cumin and its byproducts implemented by the Spices Board in the backdrop of rapid alerts from importing countries.

A Detailed information is available at http://www.business-standard.com/article/news-cm/india-s-spice-exports-rise-12-to-record-all-time-high-in-value-and-volume-in-2016-17-117061600401_1.html

India’s spices exports reach an all-time high in FY17

The Dollar Business – June 15, 2017
India’s exports of spices and spice products surged 12% to an all-time high in terms of value and also in volume terms in the financial year 2016-17, a communication from the Spices Board on Wednesday revealed.

India exported Rs.17,664.61 crore ($2633.3 million) worth of spice products in 2016-17. In terms of volume, it stood at 9,47,790 tonnes. In the fiscal of 2015-16, the spice products export stood at 8,43,255 tonnes in terms of volume and at Rs.16238.23 crore ($ 2482.83 million) in value terms.

“India has surpassed all previous export records and has fulfilled the increasing international demand for its quality spices in the face of tough competition in global markets. More satisfying was the fact that the appreciable increase in exports came in the face of strict food safety regulations that now define and determine the international commodity trade,” said A Jayathilak, Chairman, Spices Board.

Chilli remained the most demanded spice in the last financial year with shipments of around 4,00,250 tonnes valued at Rs.5,070.75 crore.

The second-most demanded spice was cumin, exports of which registered an increase of 22% in volume terms and 28% in terms of value. Cumin worth Rs.1963.20 crore and 1,19,000 tonnes in volumes was exported from the country during the given period.

Driven by higher international demand mainly in pharmaceuticals, turmeric exports reached 1,16,500 tonnes in terms of volume and Rs.1,241 crore in terms of value in the fiscal 2016-17.

A Detailed information is available at https://www.thedollarbusiness.com/news/indias-spices-exports-reach-an-alltime-high-in-fy17/50537

Record growth in export of Indian spices in 2016-17

Financial Express – June 15, 2017

The increase was largely due to the mandatory checks on cumin and its by-products implemented by the Spices Board in the backdrop of rapid alerts from importing countries

Exports of Indian spices and spice products surged to a record growth in 2016-17, touching 9,47,790 tonne, valued at Rs 17,664.61 crore ($2,633.30 million), thereby registering an increase of 12% in volume, 9% in rupee terms and 6% in dollar terms , officials of the state-run Spices Board said. During the previous fiscal 2015-16, exports stood at 8,43,255 tonnes, valued at Rs 16,238.23 crore ($2,482.83 million). Chilli continued to be the most demanded spice in FY17 with exports of 4,00,250 tonnes amounting to Rs 5,070.75 crore, registering an increase of 15% in volume and 27% in value. Cumin was the second-most exported spice …

A Detailed information is available at http://www.financialexpress.com/market/commodities/record-growth-in-export-of-indian-spices-in-2016-17/718906/

Masala Bonds Just Lost Their Spice : By Andy Mukherjee

There was a flicker of anticipation last year when an Indian borrower issued the first masala bond, a local-currency note sold outside the country. Gadfly expressed the hope that, once a thorny tax issue was sorted, the securities would go on to become the Indian version of dim sum debt, which has played a large role in internationalizing the Chinese yuan.

But the Reserve Bank of India, now under a different boss, has poured cold water into the curry.

In guidelines issued late Wednesday, the central bank imposed a ceiling on the extra yield (300 basis points over similar maturity government notes) that an Indian borrower can offer investors in London or Singapore. It also barred issuers from raising more than $50 million for less than five years.

Worst of all, it said that investors couldn’t be related to borrowers.

India imposes similar curbs on foreign-currency borrowing, but extending them to offshore rupee bonds makes little sense. Money owed to foreigners is far less likely to trigger a financial crisis when the liabilities are in local currency than when the debt to be serviced — think Indonesia in 1998 — is in dollars.

More Details are available at https://www.bloomberg.com/gadfly/articles/2017-06-08/masala-bonds-just-lost-their-spice

Andy Mukherjee :: Andy Mukherjee is a Bloomberg Gadfly columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.