Spices market - Will value addition alone increase earnings?
India sells 1.5 million tonnes of spices worldwide, which is worth $4.5 billion. This is 25% of the $20 billion global spice market. That is, india is a big player in the case of spices, but only 48% of these spices are processed and sold, such as spice powder, paste, etc.
If india wants to export $10 billion by 2030, then it will have to process and sell 70% of the spices. This will increase the price of spices and india will also benefit more.
For this, more and more spice processing units will have to be set up, where spices are cleaned, ground and packed. New varieties of spices will have to be grown and new technology will have to be used in processing. Along with this, machines and new technology will have to be used, so that the quality of spices and their shelf life increases. Attention will also have to be paid to the branding and marketing of spices, so that people around the world recognize and like indian spices.
Government initiative to increase exports
However, the government of india is also taking several steps to promote spice production and exports. The Spices Board of india (SBI), established in 1986 under the Spices Board Act, works under the Ministry of Commerce and Industry. It is headquartered in Kochi, Kerala. It promotes cardamom and 52 other types of spices, checks their quality, helps in new discoveries and connects spice sellers to markets around the world.
The National Sustainable Spice Program (NSSP) has been started jointly by the Spices Board of india and WSO. In this, everyone works together so that the cultivation of spices continues for a long time and no one is harmed. sbi has built eight spice parks across the country. In these parks, farmers are helped to sell spices, package them and get good prices. Apart from this, a spice complex has been opened in Sikkim. This complex has been built to improve the processing and packaging of spices in the North-East.
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