India, known as the home of spices, is the world’s largest producer, consumer and exporter of spices. Traditionally spices are grown in small land holdings with the help of organic farming. Today the country produces about 75 of the 109 listed variety of spices mentioned by the International Organization for Standardization (ISO) and also accounts for half of the global trading in spices. India accounts for a menacing position in terms of world spice trade with the spice exports expected to reach a whopping US$ 3billion mark by the financial year 2016-2017.
Amongst the many spices produced in India, top ranked are Pepper, Cardamom, Chilli, Ginger, Turmeric, Coriander, Cumin, Celery, Fennel, Fenugreek, Ajwain, Dill seed, Garlic, Tamarind, Clove and nutmeg. Total spices export from India in the 1st Quarter of the financial year 2016-2017 stood around US$ 621.78, registering a year on year growth of 3% in spice export rate. This is a clear indication of the increasing market share of India in terms of spice export and Indian to become a top most International market player.
Also Read:- Top 10 Most Exported Products Of India
Of the many countries, major importers of Indian spices are US, China, Vietnam, UAE, Indonesia, Malaysia, UK, Sri Lanka, Saudi Arabia and Germany. Though recently complaints from few countries regarding quality of spices being exported by India was found, measures are being taken to eradicate the root cause of these complaints and provide premium quality of spices.
The increasing growth prospects in spice export industry in India is crystal clear with the current market scenario. With spices being produced in abundance and the demand for same in International markets being high all time lefts us with no other option then to engulf ourselves in spice export business. It has become a lucrative option and is catching attention of many young entrepreneurs as well. As per a recent report, following is the list of top 10 countries which have imported spices from India in huge quantities:
#1. United States of America:S.A is a place where people from almost all nationality resides in today’s time. According to a report, the rate of Indians residing in U.S.A has increased from 0.6% to 0.9%, a growth rate of 69.37%, one of the fastest growing ethnic groups in the United States. With the growth in the rate of Indians residing in U.S.A, the demand for Indian spices has also gone up. U.S.A has imported nearly 72905.97 MT of spices worth Rs. 2979.59 Crores from India, being the largest International marketplace for spice exports from India. U.S.A imports Pepper, Cardamom, Chilli, Ginger, turmeric etc.
#2. Vietnam: Vietnam is a growing market for Indian exporters. Vietnam’s import from India has grown around 32% p.a during the period of 2009-2013. Compared to 20% growth in overall imports by Vietnam during the same period. Vietnam is considered as pillar of India’s Look East Policy. Vietnam imports spices such as Pepper, Chilli, Cumin, Fennel etc in huge quantities from India apart from importing machineries, plastic, pharma and other agriculture and food products. Vietnam has imported 168708.42 MT spices valuing around Rs.2293.37 Crores.
#3. China: China being a multinational country has a population composed of large number of ethnic and linguistic groups. Such diversity calls for diversified food habits as well. China the most populous country has a huge demand of spices and India being the leading producer of spices, serves the purpose. Of all the spices imported few are Pepper, Chilli, Celery, Mint Products etc. China has imported around 16252.63MT of spices valuing around Rs.1301.65 Crores from India.
#4. Thailand: Thailand known for its exotic tropical beaches and opulent royal palaces is the fourth largest international export market of Indian spices. Though it has highly competitive and diversified agriculture, it has to import few agricultural products. Rice is Thailand’s main crop and it is exported by Thailand in huge quantities. But when it comes to spices it has to import some spices from international market. India being the home of spices exports Chilli, Spice Oils and oleoresins etc. to Thailand. Thailand has imported 63526.33 MT spices valuing around Rs. 1095.36 Crores from India.
#5. Malaysia: Malaysia is known for its beaches, rainforests and mix of Malay, Chinese, Indian and European cultural influences. Such diversity in one country’s population calls for diversified food habits as well. Around 6.7% of the total population in Malaysia accounts to Indians. The need for importing spices in this country is there as the major products grown by them is Rubber, Palm oil, cocoa etc. Hence it imports spices from India every year. It imports Chilli, Turmeric, Coriander, Cumin and other spices. Malaysia has imported 68893.80 MT spices valuing around 819.09 Crores.
#6. United Kingdom:K itself has a diversified agriculture, producing products mainly as wheat, barley, oats , potatoes etc. But spices are not produced in abundance so that it is available for everyone who requires it. India being the leading global market for exporting spices, exports Pepper, Cardamom, Ginger, Turmeric etc. United Kingdom has imported 27864.45 MT spices valuing around Rs.781.74 Crores from India, being the sixth largest export marketplace for Indian spices.
#7. Bangladesh: Food that is prepared in Bangladesh requires Ginger, garlic, Turmeric, Cumin etc as main ingredients. Though the country has a very rich agriculture, it needs to import some products from the International market. Chilli, Ginger, Cumin, etc are imported by Bangladesh from India. Bangladesh has become a very good marketplace for Indian spice exports. Bangladesh imported 87654.89MT spices worth Rs. 734.67 Crores from India.
#8. United Arab Emirates: Lack of arable land, intense heat and limited water supply are the reasons why the agricultural conditions in the UAE are not that good. Hence the country had to import quite a number of goods from the international market. This has given an opportunity to India to target UAE as an export marketplace of Indian spices. Pepper, Cardamom, Chilli, Ginger, Turmeric, Coriander etc are few spices that are imported by UAE from India. The country has imported around 50752.58MT spices valuing around Rs.729.91 Crores from India.
#9. Sri Lanka: Sri Lanka, the island nation famous for its ancient Buddhist ruins is also famous for its agricultural activities. Though spices are also produced in this country but the quantity produced is not adequate as the primary produce is of rice and tea. This is the reason why Sri Lanka ranks at the ninth position for importing spices from India. The country also imports non food products from India. Out of all the spices imported from India, few are Chilli, Turmeric, Cumin, Fenugreek etc. Sri Lanka has imported 65161.27MT spices valuing around Rs.652.96 Crores from India.
#10. Saudi Arab: Saudi Arab being a desert country does not provide pleasant agricultural conditions. Though cereals, vegetables, fruits and forage crops are grown in the country but the quantity produced is not adequate, also few goods are not produced as the agricultural conditions are not supportive owing to climatic conditions. Saudi Arab imports various goods from India i.e. both food and non food goods. Of the many spices imported few are Pepper, Cardamom, Chilli, Ginger, Turmeric, Coriander etc. Saudi Arab has imported around 29255 MT spices valuing around 616 Crores from India.