Global Spice Industry News India: Spice Market Growth and Export Boom (source) Indian spice market to reach $17.04B by 2033, with a CAGR of 8.16% from 2025. India accounts for 70%+ of global spice exports, driven by demand from North America, Europe, Middle East. Rising e-commerce and demand for organic, ready-to-use spice blends fuel growth. … Read more
India ZOFF Modernises Indian Spice Industry with Automation (source) ZOFF leverages smart automation to boost efficiency and quality in spice processing. The company focuses on consumer-centric innovation, aiming to disrupt India’s legacy spice market. Modernisation efforts target both domestic and export segments, setting new industry benchmarks. Review: ZOFF’s tech-driven approach is redefining Indian spice manufacturing, … Read more
India India’s Spice Market to Double by 2033, Driven by Innovation and Exports (source) India’s spice market is projected to reach $17.04 billion by 2033, up from $8.41 billion in 2024. Growth driven by new spice blends, sustainable sourcing, medicinal use, and government support. India remains the world’s top spice exporter, accounting for over 70% … Read more
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News
“Pepper exports increase 30% : Vietnam exported nearly 131,777 tonnes of pepper worth 408.9 million USD in the first five months of this year, up 30% in volume but down 12.7 in value over the same period last year, according to the Vietnam Pepper Association (VPA).” – Reported on June 10, 2023 https://en.vietnamplus.vn/pepper-exports-increase-30/254438.vnp
Review
The news that Vietnam’s pepper exports increased by 30% in the first five months of 2023 is a positive development for the country’s agricultural sector. The increase in volume is likely due to a combination of factors, including favorable weather conditions and increased demand from key export markets such as China and the Philippines. The decline in value, however, is likely due to a fall in global pepper prices.
Here is a review of the news in India “Agri Picks Report June 08, 2023: Geojit ; According to Geojit, On Wednesday, Jeera futures continued rising, while coriander and turmeric futures too a breather from the recent fall and inched up on NCDEX.”
The news report is about the movement of agricultural commodity futures on the National Commodity and Derivatives Exchange (NCDEX) on Wednesday, June 8, 2023 in India. According to the report, jeera (Cumin Seeds) futures continued to rise, while coriander and turmeric futures took a breather from the recent fall and inched up.
Imports of spices are subject to review by the Food and Drug Administration (FDA) and their admissibility is determined by the FDA. You may want to contact the FDA to obtain instructions on how to label the products (i.e., ingredients, nutrition, content etc.) at 1-888-723-3366.
All commercial imports of food products including spices require the filing of Prior Notice with FDA, and foreign manufacturers and/or distributors of food products must register with the FDA before their goods may be admitted.
Following list is Major Spice/state wise Production of spices in India.
PEPPER – KARNATAKA, KERALA, TAMIL NADU
CARDAMOM (SMALL) – KERALA, KARNATAKA, TAMIL NADU
CARDAMOM (LARGE) – SIKKIM, WEST BENGAL
CHILLI – ANDHRA PRADESH, TELANGANA, KARNATAKA, WEST BENGAL, MADHYA PRADESH, ORISSA, GUJARAT, TAMIL NADU, PUNJAB
On receiving an export order, it should be examined carefully in respect of items, specification, payment conditions, packaging, delivery schedule, etc. and then the order should be confirmed. Accordingly, the exporter may enter into a formal contract with the overseas buyer.
To start export business, the following steps can be followed:
To start the export business, first a sole Proprietary concern/ Partnership firm/Company has to be set up as per procedure with an attractive name and logo.
A current account with a Bank authorized to deal in Foreign Exchange should be opened.
Kochi, a vibrant city located in the southwestern coastal state of Kerala, India, has long been renowned as the epicenter of the country’s spice trade. Blessed with a favorable climate and fertile soil, Kochi’s strategic location made it a hub for spice cultivation, processing, and trade for centuries. This topic delves into the rich history, economic significance, and cultural legacy of the spice industry in Kochi, shedding light on the city’s status as the spice capital of India.
Current Affairs – Adda247 : Oct 23, 2022
World Spice Congress 14th edition: The 14th World Spice Congress will take place in the CIDCO Exhibition and Convention Centre in Navi Mumbai, Maharashtra.
World Spice Congress 14th edition: The 14th World Spice Congress will take place in the CIDCO Exhibition and Convention Centre in Navi Mumbai, Maharashtra, from February 16 to 18, 2023. Spices Board India in conjunction with a number of trade and export forums is hosting the World Spice Congress during India’s G20 presidency.
The Hindu BusinessLine – Oct 23, 2022
Flipkart acts as a catalyst of change, strengthening its commitment towards building the local economy through partnerships.
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.