Spice exports grew in the face of covid, supply chain barriers: Industry

Chennai, Jan 20 (KNN) Despite the impact of pandemic caused in FY21, India’s export volume of spices has grown more than three times over the decade, said M.M. Murugappan, Chairman of Carborundum Universal Ltd. at the International Spice Conference 2023.

Murugappan said that exports volumes have reached an all- time high in spite of supply chain inefficiencies, traceability challenges, low productivity and unsustainable practices and skilled labour shortage, reported The Hindu.

He urged the government to address these issues and challenges noting that start-ups had emerged in this industry.

Murugappan further said, “Some start-ups have emerged in the space like Spice Story, Masala Tokri, Dspices and Zizira. The market has recognised the opportunity and this has led to multiple mergers and acquisitions and private equity action in the domestic spices space.”

D. Sathiyan, Secretary, Spices Board, said India was the spice basket of the world with its biodiversity offering 75 out of 105 varieties of spices listed by ISO.

“We have robust supply network, excellent processing and value addition facilities and an export base of more than 7,000 registered spice exporters with manufacturing exporters constituting more than 10 per cent,” he said.

Reflecting the vision of government, he said, “Indian spices and spice products in 225 different types are reaching more than 180 different destinations across the globe. The government of India wants the sector to grow further.”  (KNN Bureau)