Spices Import Sees Substantial Growth

Kochi: Imports of spices in the last fiscal has displayed a significant increase of about 5,000 tonnes in volume and about Rs 65 crore in value from that of the previous financial year mainly because of the competitive prices for most of the items in the world market. The total imports during Apr- Mar 2006-07 stood at 95,405 tonnes valued at Rs 603.87 crore as against 90,412 tonnes worth Rs 539.24 crore in 2005-06. Thus, there was an increase of 4,993 tonnes in volume and Rs 64.63 crore in value. Despite a sharp decline in the unit value of ginger fresh/dry to Rs 11.83 a kg from Rs 19.69 a kg in 2005-06 its imports had dropped to 20,700 tonnes valued at Rs 24.50 crore last fiscal from 23,680 tonnes worth Rs 46.63 crore because of its availability indigenously cheaper.
Meanwhile, the high prices in the world market for cloves have resulted in drop in its imports, which fell to 7,250 tonnes valued at Rs 112.85 crore in 2006-07 from 7,721 tonnes valued at Rs 131.17 crore in the previous fiscal. Imports of pepper, however, have shown a decline last fiscal to 15,750 tonnes valued at Rs 136.42 crore from 16,870 tonnes worth Rs 103.58 crore in 2005-06. Increase in unit value, which surged to Rs 86.62 a kg from Rs 61.40 a kg in 2005-06 and tight supply position in the world market said to have led to the drop in the commodity. Imports of cassia increased to 11,100 tonnes valued at Rs 33.62 crore as against 9,721tonnes valued at Rs 27.63 crore despite an increase in the unit value.