Nine major players in the cinnamon industry have joined forces to form U10 Certified Ceylon Cinnamon (CCC) to promote and develop cinnamon exports.
Chairman of the U10 CCC Dr I.R Ferdinand said certified cinnamon will be the driving product for the future of the industry. U10 has already established a system of quality inspection and certification for nine member factories.
ISO 22000 and HACCP certification are vital factors in entering the international markets. U10's quality enforcement mechanisms will upgrade nine existing peeling centres to ISO 22000 certified factory level.
Director of the U10 CCC, Lal de Silva said this year they target to export 100 metric tonnes of cinnamon under U10 and expect to increase the quantity in the future. "We are optimistic that this target could be achieved since there are valuable orders placed by foreign buyers," Mr de Silva said. "Other cinnamon growers and the exporters also could join this new company and improve cinnamon exports."
As the initial stage, the company will focus on certifying local cinnamon according to international standards and then moving for value addition of local cinnamon such as powered cinnamon, cut cinnamon, cinnamon bark oil and cinnamon health capsules. The company expects to negotiate with international buyers for entering into joint ventures.
Consultant of the U10 CCC, Prof. D.N. Weerasinghe said the demand for cinnamon products is increasing in the international market.
"Today industries such as beverage, liquor, pharmaceutical and perfumery use cinnamon as a raw material. Prices of cinnamon in the international market are also increasing. The local cinnamon industry is still adopting traditional methods for peeling which badly impacts the safety and quality standards. There is a high production cost due to high labour charges in the industry," he said.
"The shortage of peelers is another obstacle in the industry," he said. "There is a lack of knowledge on product diversification of the lower part of the supply chain in the industry. Absence in regulatory support for maintaining standards in the industry and absence of transforming information on Colombo auction prices to growers are some of the issues in the industry," he said.
Sri Lanka produces 13,000 metric tonnes of cinnamon every year, 90% of which is exported mainly to Mexico, US and EU.
Source: Daily News, Sri Lanka
Friday, May 30, 2008
China Cuts Import Duties To Curb Inflation
The Chinese government has slashed import duty on coconut oil from 10% to 5%. The commodity was one of a number which saw their tariffs cut this week in a bid by the Chinese to rein in inflation.
China will also temporarily reduce import tariffs on other selected commodities. The import tariff on frozen pork will be cut to 6% from 12%, on soyameal and peanut meal for feedmeal will be reduced to 2% (from 5%) from June 1 to December 31 and on olive oil to 5% from 9% from June 1 to September 30. It will also cut the sliding tariff on imports of high quality cotton that exceed the import quota to 3%-40% from 5%- 40%, effective June 5 to October 5.
The move is likely to have an overall negative sentiment on agricultural commodities. The government has been sparing no efforts to curb inflation. China’s key inflation rate rose 8.5% in April from a year earlier, hovering near 12-year highs.
The import tariff cuts don’t include soya-oil as the market had expected, showing the government’s willingness to protect farmers’ interests as the purchase of newly-harvested rapeseed has just started.
Source: Commodity Online
China will also temporarily reduce import tariffs on other selected commodities. The import tariff on frozen pork will be cut to 6% from 12%, on soyameal and peanut meal for feedmeal will be reduced to 2% (from 5%) from June 1 to December 31 and on olive oil to 5% from 9% from June 1 to September 30. It will also cut the sliding tariff on imports of high quality cotton that exceed the import quota to 3%-40% from 5%- 40%, effective June 5 to October 5.
The move is likely to have an overall negative sentiment on agricultural commodities. The government has been sparing no efforts to curb inflation. China’s key inflation rate rose 8.5% in April from a year earlier, hovering near 12-year highs.
The import tariff cuts don’t include soya-oil as the market had expected, showing the government’s willingness to protect farmers’ interests as the purchase of newly-harvested rapeseed has just started.
Source: Commodity Online
India Targets Ten-Fold Increase In Spice Exports
With the huge feasibility in the field of variety spices cultivation and value added process of the spices crops in the country, India has targeted $10 billion dollar of spices by 2017.
Speaking at an award function organized by Spices Board for honouring exporters and spices farmers for their performance in Exports and Productivity, Union Minister of State for Commerce and Power Jairam Ramesh said the Board needs to elevate the proposed 10 billion dollar exports in the value term as a challenge by 2017.
India has set an all-time record in spices exports in 2007-08 by crossing the $ 1 billion mark in exports.
“In the value added segment, the country need to put nearly 75 percent efforts to achieve the proposed target per year," he said.
In order to catch such high target, the Minister said: "We need to increase the productivity of variety spices by promoting and providing much awareness among the farmers." Spices parks are in such institutions aimed at providing such awareness and guidelines to farmers, he said.
The Spices Board is planning to set up spices parks in different states including Rajasthan, Gujarat, Meghalaya, Assam, Madhypradesh, Tamil Nadu, Karnataka and Kerala. In Kerala, land acquisition for the park is yet to get underway.
The Minister urged the Board to give much importance to non-traditional spice like chilli and mint since these were accounted for 50 percent in the total spices exports rather than traditional spices like cardamom and pepper.
“We have enormous opportunity to retain our lost domination over the spices in the world market by catering value added spices”, he said. The government is also considering electronic auction for pepper to reduce communication gap among farmers and other players in the field, he added.
Source: Commodity Online
Speaking at an award function organized by Spices Board for honouring exporters and spices farmers for their performance in Exports and Productivity, Union Minister of State for Commerce and Power Jairam Ramesh said the Board needs to elevate the proposed 10 billion dollar exports in the value term as a challenge by 2017.
India has set an all-time record in spices exports in 2007-08 by crossing the $ 1 billion mark in exports.
“In the value added segment, the country need to put nearly 75 percent efforts to achieve the proposed target per year," he said.
In order to catch such high target, the Minister said: "We need to increase the productivity of variety spices by promoting and providing much awareness among the farmers." Spices parks are in such institutions aimed at providing such awareness and guidelines to farmers, he said.
The Spices Board is planning to set up spices parks in different states including Rajasthan, Gujarat, Meghalaya, Assam, Madhypradesh, Tamil Nadu, Karnataka and Kerala. In Kerala, land acquisition for the park is yet to get underway.
The Minister urged the Board to give much importance to non-traditional spice like chilli and mint since these were accounted for 50 percent in the total spices exports rather than traditional spices like cardamom and pepper.
“We have enormous opportunity to retain our lost domination over the spices in the world market by catering value added spices”, he said. The government is also considering electronic auction for pepper to reduce communication gap among farmers and other players in the field, he added.
Source: Commodity Online
Thursday, May 29, 2008
AgriNurture Buys World's Largest DC Plant
AgriNurture Inc., an agro-commercial company and exporter, is taking control and management of Peter Paul Philippines Corp., the world’s biggest producer of desiccated coconut.
“Talks are under way for the buyout, if I may call it a buyout. The owners have already agreed in principle to relinquish 51 percent of the company to ANI. We certainly hope to forge a deal before the third quarter is over,” said Antonio Tiu, president of AgriNurture. He said the company had the option to acquire the rest of Peter Paul’s shares later once the purchase for the 51 percent stake is finalized. “Right now, we’re finalizing the acquisition. We just have to push for our planned IPO so we can secure the deal,” Mr Tiu said.
AgruNurture plans to raise P1.2 billion from the equities market. The company earlier projected about P800 million to P1 billion in proceeds from the IPO. “But as we got hold of the audited financial statement, as we talked to financial investors and as we went on with the validation on projections, we’re looking at P1 to P1.2 billion,” said Janssen Ceo, product manager and spokesman for the company. AgriNurture plans to offer 70 percent of the IPO shares to local investors and the rest to foreign investors. It is initially looking at price of about P25 to P30 per share. The company said it would list its shares in the local bourse despite volatile conditions to raise funds for the expansion of its farming division and pursue plans for more brand acquisitions.
The acquisition price of Peter Paul was not disclosed.
Peter Paul’s plant, a 13-hectare facility in Barrio Pahinga, Candelaria, Quezon, is capable of producing 22,000 metric tons per year of desiccated coconut for domestic consumption and export to countries like the US and China. Once a wholly-owned subsidiary of US-based chocolate confectionary Peter Paul Candy Manufacturing, Peter Paul Philippines, now locally-owned, has expanded its operations to include buko water extraction, coco milk and coco cream manufacture, virgin coconut oil, coconut flour and fibre, copra, copra cake, coconut oil, paring cake, paring oil and other residual products.
AgriNurture supplies 70 percent of SM Supermarket and SM Hypermarts’ fresh fruits and vegetable requirement under the SM Bonus brand, through contract growing arrangements and from its own output.
Source: Manila Standard
“Talks are under way for the buyout, if I may call it a buyout. The owners have already agreed in principle to relinquish 51 percent of the company to ANI. We certainly hope to forge a deal before the third quarter is over,” said Antonio Tiu, president of AgriNurture. He said the company had the option to acquire the rest of Peter Paul’s shares later once the purchase for the 51 percent stake is finalized. “Right now, we’re finalizing the acquisition. We just have to push for our planned IPO so we can secure the deal,” Mr Tiu said.
AgruNurture plans to raise P1.2 billion from the equities market. The company earlier projected about P800 million to P1 billion in proceeds from the IPO. “But as we got hold of the audited financial statement, as we talked to financial investors and as we went on with the validation on projections, we’re looking at P1 to P1.2 billion,” said Janssen Ceo, product manager and spokesman for the company. AgriNurture plans to offer 70 percent of the IPO shares to local investors and the rest to foreign investors. It is initially looking at price of about P25 to P30 per share. The company said it would list its shares in the local bourse despite volatile conditions to raise funds for the expansion of its farming division and pursue plans for more brand acquisitions.
The acquisition price of Peter Paul was not disclosed.
Peter Paul’s plant, a 13-hectare facility in Barrio Pahinga, Candelaria, Quezon, is capable of producing 22,000 metric tons per year of desiccated coconut for domestic consumption and export to countries like the US and China. Once a wholly-owned subsidiary of US-based chocolate confectionary Peter Paul Candy Manufacturing, Peter Paul Philippines, now locally-owned, has expanded its operations to include buko water extraction, coco milk and coco cream manufacture, virgin coconut oil, coconut flour and fibre, copra, copra cake, coconut oil, paring cake, paring oil and other residual products.
AgriNurture supplies 70 percent of SM Supermarket and SM Hypermarts’ fresh fruits and vegetable requirement under the SM Bonus brand, through contract growing arrangements and from its own output.
Source: Manila Standard
Indian Exporters Source Supplies From Vietnam
Indian exporters with exposure in black pepper are these days going slow in picking up spices from local mandis. Instead, they prefer to import pepper from Vietnam for re-exports either in raw form or value-added form.
Precisely speaking, they are keen to replenish their stocks by importing the ASTA-grade Vietnamese pepper of the 550 ml variety, which has climbed down $100 to $3,200 per tonne over the past 15 days. At this rate, its landed price proves to be cheaper than the Indian black pepper, which too reacted to lower off-take by domestic traders has declined Rs 200 to stay put at nearly Rs 15,000 per quintal on Tuesday.
Vietnam, with more than 1 million tonnes (mt) of black pepper production has always been cheaper than pepper originating from other countries. But this time the bearish sentiment is holding sway over the Vietnamese pepper following heavy selling of the spice by its farmers. Unlike Indian farmers, black pepper growers in Vietnam do not wish to hold stocks. Instead, there is a tendency to quickly dispose off stocks to clear interest rate payment on farm loans and charges for storage at warehouses, which together roughly adds up to 24%.
Tracking the downswing in the price of Vietnamese pepper, which influences the global pepper market in a large way, Indian pepper prices have shed Rs 200 per quintal in the past three days. Lower off-take by exporters along with traders has also imparted to the downtrend. Even then the FOB value of Indian pepper, especially the superior grade Malabar grade-1, now stands at $3,800 per tonne whereas Vietnam’s ASTA-grade pepper is being quoted at $3,200 per tonne.
While the ASTA-grade pepper originating from Indonesia and Brazil are hovering around $3,900 per tonne and $3,500 tonne per tonne, respectively.
Notwithstanding the declining trend in Vietnam pepper, buyers in the global market, which want to buy quality pepper, are closely watching the Indian pepper futures. With the recent decline in Indian pepper price in local markets, overseas buyers prefer to wait a while before placing new contracts. But traders feel that Indian pepper price may start rising again as domestic buying is expected to improve in the coming days with the opportunity looming large in arbitrage between spot and futures prices.
Source: Economic Times
Precisely speaking, they are keen to replenish their stocks by importing the ASTA-grade Vietnamese pepper of the 550 ml variety, which has climbed down $100 to $3,200 per tonne over the past 15 days. At this rate, its landed price proves to be cheaper than the Indian black pepper, which too reacted to lower off-take by domestic traders has declined Rs 200 to stay put at nearly Rs 15,000 per quintal on Tuesday.
Vietnam, with more than 1 million tonnes (mt) of black pepper production has always been cheaper than pepper originating from other countries. But this time the bearish sentiment is holding sway over the Vietnamese pepper following heavy selling of the spice by its farmers. Unlike Indian farmers, black pepper growers in Vietnam do not wish to hold stocks. Instead, there is a tendency to quickly dispose off stocks to clear interest rate payment on farm loans and charges for storage at warehouses, which together roughly adds up to 24%.
Tracking the downswing in the price of Vietnamese pepper, which influences the global pepper market in a large way, Indian pepper prices have shed Rs 200 per quintal in the past three days. Lower off-take by exporters along with traders has also imparted to the downtrend. Even then the FOB value of Indian pepper, especially the superior grade Malabar grade-1, now stands at $3,800 per tonne whereas Vietnam’s ASTA-grade pepper is being quoted at $3,200 per tonne.
While the ASTA-grade pepper originating from Indonesia and Brazil are hovering around $3,900 per tonne and $3,500 tonne per tonne, respectively.
Notwithstanding the declining trend in Vietnam pepper, buyers in the global market, which want to buy quality pepper, are closely watching the Indian pepper futures. With the recent decline in Indian pepper price in local markets, overseas buyers prefer to wait a while before placing new contracts. But traders feel that Indian pepper price may start rising again as domestic buying is expected to improve in the coming days with the opportunity looming large in arbitrage between spot and futures prices.
Source: Economic Times
Sri Lanka Tea Shines In Macao
Sri Lanka, the largest producer of orthodox black tea in the world, captured the interest of a large number of visitors to the Macau Tea Expo held from 23-25 May at the new Coati Strip Convention and Exhibition Centre in Macao.
Sri Lanka’s participation was organised by the Commercial Section of the Embassy of Sri Lanka in China, together with the Tea Promotional Unit of the Sri Lanka Tea Board in Japan.
This was the first time that Sri Lanka participated at an exhibition in Macau - dubbed the Special Administrative Region (SAR) of leisure and entertainment. The Sri Lanka Tea sector could not ask for a better timing than this to participate at a Tea expo in Macau especially at a moment when the SAR Government is planning to accelerate the development of the convention and exhibition industry. The inaugural effort yielded high expectations for Sri Lanka Tea in one of the best tourist attractions in Asia that has an annual arrival of more than 21 million visitors.
Sri Lanka participated with a display of a variety of ‘Ceylon Tea’ from well known tea brands such as Watawala, Mabroc, Stassen, Mlesna ,Impra, Easwaran Brothers, Ranfer Hyson’s Sinbad, Jafferjee etc and a huge demand and enthusiasm was shown by the visitors. Visitors to the exhibition were fascinated with the value added Ceylon Tea such as Earl Gray, Lemon, Apple, Peach, Mango, Strawberry, and Mint and spice flavours such as cardamom, cinnamon and clove. It was a novel experience for many new visitors to sample the distinct taste of Ceylon Tea coming from the six agro-climatic districts in which Ceylon tea is grown.
In a new approach the Embassy, together with the Tea Promotional Unit of the Sri Lanka Tea Board in Japan, has been promoting Ceylon Tea on a large scale on mainland China which yielded an extraordinary growth rate of more than 70% last year. The Macau expo was another effort to expand the market in the special Administrative Regions of China. The exhibitors were of the view that this event was one of the best organized and a well-timed effort, taking into consideration the Macau‘s free port status. The exhibitors received many encouraging inquiries from buyers and agents of Tea in Macau and other neighbouring provinces of mainland China during the three days of the expo.
An Asia-Africa Tea Meeting was also held during the Expo where the Commercial Counsellor made a presentation on the Sri Lanka Tea Industry attended by Ambassadors and Commercial Counsellors of Tea Exporting Countries and high officials of China Tea Marketing Association.
The event also provided plenty of opportunities to strengthen cooperation between Sri Lanka and Macau in the fields of trade and investment. Sri Lankan officials also had a fruitful meeting with the Acting President and Executive Director and other high officials of the Macau Trade and Investment Promotion institute (IPIM) during the fair. As a result of this meeting, the IPIM agreed to sign a memorandum of understanding with the trade promotional agency in Sri Lanka and also extended an invitation to Sri Lanka for the 13th Macau International Trade and Investment Promotion Fair and Asian Fashion Fair. Further, the IPIM agreed to provide space in the Monthly News Letter and the web site for Sri Lanka Trade and Investment leads.
With an annual tourist arrival recording a staggering 21 million and an economic growth rate of 28% achieving in the first half of the year 2007, the economic environment of Macau presents a window of opportunities for Sri Lankan products such as Tea, Gems and jewellery, Handicraft, Spices and Herbal Spa Products.
The organizers of the Tea Expo, China Tea Marketing Association and the Macau Trade and Investment Promotion Institute, under the auspices of the Macau SAR Government carried out the task to perfection, winning the hearts of all the Sri Lankan exhibitors and the officials for their sheer dedication and support extended during the fair.
Source: Daily Mirror, Sri Lanka
Sri Lanka’s participation was organised by the Commercial Section of the Embassy of Sri Lanka in China, together with the Tea Promotional Unit of the Sri Lanka Tea Board in Japan.
This was the first time that Sri Lanka participated at an exhibition in Macau - dubbed the Special Administrative Region (SAR) of leisure and entertainment. The Sri Lanka Tea sector could not ask for a better timing than this to participate at a Tea expo in Macau especially at a moment when the SAR Government is planning to accelerate the development of the convention and exhibition industry. The inaugural effort yielded high expectations for Sri Lanka Tea in one of the best tourist attractions in Asia that has an annual arrival of more than 21 million visitors.
Sri Lanka participated with a display of a variety of ‘Ceylon Tea’ from well known tea brands such as Watawala, Mabroc, Stassen, Mlesna ,Impra, Easwaran Brothers, Ranfer Hyson’s Sinbad, Jafferjee etc and a huge demand and enthusiasm was shown by the visitors. Visitors to the exhibition were fascinated with the value added Ceylon Tea such as Earl Gray, Lemon, Apple, Peach, Mango, Strawberry, and Mint and spice flavours such as cardamom, cinnamon and clove. It was a novel experience for many new visitors to sample the distinct taste of Ceylon Tea coming from the six agro-climatic districts in which Ceylon tea is grown.
In a new approach the Embassy, together with the Tea Promotional Unit of the Sri Lanka Tea Board in Japan, has been promoting Ceylon Tea on a large scale on mainland China which yielded an extraordinary growth rate of more than 70% last year. The Macau expo was another effort to expand the market in the special Administrative Regions of China. The exhibitors were of the view that this event was one of the best organized and a well-timed effort, taking into consideration the Macau‘s free port status. The exhibitors received many encouraging inquiries from buyers and agents of Tea in Macau and other neighbouring provinces of mainland China during the three days of the expo.
An Asia-Africa Tea Meeting was also held during the Expo where the Commercial Counsellor made a presentation on the Sri Lanka Tea Industry attended by Ambassadors and Commercial Counsellors of Tea Exporting Countries and high officials of China Tea Marketing Association.
The event also provided plenty of opportunities to strengthen cooperation between Sri Lanka and Macau in the fields of trade and investment. Sri Lankan officials also had a fruitful meeting with the Acting President and Executive Director and other high officials of the Macau Trade and Investment Promotion institute (IPIM) during the fair. As a result of this meeting, the IPIM agreed to sign a memorandum of understanding with the trade promotional agency in Sri Lanka and also extended an invitation to Sri Lanka for the 13th Macau International Trade and Investment Promotion Fair and Asian Fashion Fair. Further, the IPIM agreed to provide space in the Monthly News Letter and the web site for Sri Lanka Trade and Investment leads.
With an annual tourist arrival recording a staggering 21 million and an economic growth rate of 28% achieving in the first half of the year 2007, the economic environment of Macau presents a window of opportunities for Sri Lankan products such as Tea, Gems and jewellery, Handicraft, Spices and Herbal Spa Products.
The organizers of the Tea Expo, China Tea Marketing Association and the Macau Trade and Investment Promotion Institute, under the auspices of the Macau SAR Government carried out the task to perfection, winning the hearts of all the Sri Lankan exhibitors and the officials for their sheer dedication and support extended during the fair.
Source: Daily Mirror, Sri Lanka
Tuesday, May 27, 2008
India Rice Export Ban To Remain In Force
India will not ease curbs on rice exports despite a record crop, a top official said on Tuesday. "There is no proposal to ease a ban on rice exports," Commerce Secretary Gopal Pillai told reporters.
India, like other Asian rice exporters, banned exports of non-basmati rice in March, after a series of earlier partial restrictions, in a bid to boost supplies and contain inflation that is at 3-½ year highs. However, a panel of ministers was considering a proposal to sell small quantities of rice to some countries which have made requests to India at diplomatic levels, he said.
"The only concession which the empowered group of ministers will look at is whether some countries, especially African countries which have made some requests ... for giving them small quantities of rice for meeting their immediate needs," he said.
Food Secretary T. Nand Kumar told Reuters in an interview this month that India would decide by June whether to sell rice to some neighbouring states that have asked the South Asian nation to resume shipments.
The decision of India, the second-biggest rice exporter in 2007, to ban non-basmati rice exports and to curb sales of the superior basmati variety, triggered protectionist measures by other leading producers to secure supplies. The curbs trebled benchmark Thai prices. Prospects of a good harvest in India and some other countries have softened prices, prompting Cambodia to lift a ban on rice shipments it imposed two months ago, the first major Asian exporter to roll back such curbs.
Source: Reuters
India, like other Asian rice exporters, banned exports of non-basmati rice in March, after a series of earlier partial restrictions, in a bid to boost supplies and contain inflation that is at 3-½ year highs. However, a panel of ministers was considering a proposal to sell small quantities of rice to some countries which have made requests to India at diplomatic levels, he said.
"The only concession which the empowered group of ministers will look at is whether some countries, especially African countries which have made some requests ... for giving them small quantities of rice for meeting their immediate needs," he said.
Food Secretary T. Nand Kumar told Reuters in an interview this month that India would decide by June whether to sell rice to some neighbouring states that have asked the South Asian nation to resume shipments.
The decision of India, the second-biggest rice exporter in 2007, to ban non-basmati rice exports and to curb sales of the superior basmati variety, triggered protectionist measures by other leading producers to secure supplies. The curbs trebled benchmark Thai prices. Prospects of a good harvest in India and some other countries have softened prices, prompting Cambodia to lift a ban on rice shipments it imposed two months ago, the first major Asian exporter to roll back such curbs.
Source: Reuters
Monday, May 26, 2008
Sri Lanka To Import Copra
Sri Lanka is to import copra to feed the country's oil mills which are facing high prices and raw material shortfalls, a senior minister said.
The cabinet of ministers approved the import of 45,000 tonnes of metric tonnes of copra to the country following a request made by plantation industries minister D M Jayaratne to increase coconut oil production amidst an increasing trend to adulterate coconut oil with palm oil and other types of oil, he said.
Sri Lanka's coconut prices have been rising along with high domestic inflation which was over 25 percent in April.
Sri Lanka restricts the import of raw nuts to prevent disease entering the country.
The island's coconut product exporters - including those making desiccated coconut - have called on the government to cut import duties on coconut oil to free more nuts for their industries.
Sri Lanka has been trying to import various products including rice, in a bid to reduce inflation which is lower in the rest of the world than in the island.
Source: Lanka Business Online
The cabinet of ministers approved the import of 45,000 tonnes of metric tonnes of copra to the country following a request made by plantation industries minister D M Jayaratne to increase coconut oil production amidst an increasing trend to adulterate coconut oil with palm oil and other types of oil, he said.
Sri Lanka's coconut prices have been rising along with high domestic inflation which was over 25 percent in April.
Sri Lanka restricts the import of raw nuts to prevent disease entering the country.
The island's coconut product exporters - including those making desiccated coconut - have called on the government to cut import duties on coconut oil to free more nuts for their industries.
Sri Lanka has been trying to import various products including rice, in a bid to reduce inflation which is lower in the rest of the world than in the island.
Source: Lanka Business Online
Indian Cardamom Production To Double In Four Years
Indian cardamom production is likely to double within four years to 24,000 tonne, Spices Board chairman VJ Kurian said. The massive re-plantation and rejuvenation exercise undertaken by the board would yield the result in four years, he said.
“The board is spending Rs 122 crore (for four years), out of which Rs 50 crore will be used in the state of Kerala alone,” he said. “Farmers are positively reacting to the scheme and the results are encouraging,” he added.
The total area to be replanted is 28,000 hectares, of which 10,000 hectares is in Kerala and Tamil Nadu and 18,000 hectares in Karnataka. About 15,000 hectares will be rejuvenated in Kerala and Tamil Nadu.
Indian cardamom production touched peak of 12,540 tonne in 2005-06 and dropped to less than 8,000 in 2007-08 after being devastated by erratic rains in the producing region.
The Board has also planned for the marketing of the increased output and is likely to concentrate on the nutraceutical benefits of cardamom to push more exports, Kurian said.
Spices Board will also establish a common facility centre in Idukki district for cardamom farmers, board sources said. Board has identified 12 acres of land in Kuttady, near Vandanmedu for the centre, which will have facilities for drying, grading and packing of cardamom.
Source: Financial Express
“The board is spending Rs 122 crore (for four years), out of which Rs 50 crore will be used in the state of Kerala alone,” he said. “Farmers are positively reacting to the scheme and the results are encouraging,” he added.
The total area to be replanted is 28,000 hectares, of which 10,000 hectares is in Kerala and Tamil Nadu and 18,000 hectares in Karnataka. About 15,000 hectares will be rejuvenated in Kerala and Tamil Nadu.
Indian cardamom production touched peak of 12,540 tonne in 2005-06 and dropped to less than 8,000 in 2007-08 after being devastated by erratic rains in the producing region.
The Board has also planned for the marketing of the increased output and is likely to concentrate on the nutraceutical benefits of cardamom to push more exports, Kurian said.
Spices Board will also establish a common facility centre in Idukki district for cardamom farmers, board sources said. Board has identified 12 acres of land in Kuttady, near Vandanmedu for the centre, which will have facilities for drying, grading and packing of cardamom.
Source: Financial Express
Sunday, May 25, 2008
India Spice Exports Exceeds $US1billion
India’s spices export has crossed $1 billion in 2007-08 registering an increase of 19% in volume, 24% in rupee value and 39% in dollar terms.
During the year, a total of 444,250 tonnes of spices and spice products valued at Rs.4,435.50 crore ($101.80 million) were exported from the country as against 373,750 tonnes valued at Rs.3,575.75 crore ($792.95 million) the previous year.
V.J. Kurien, Chairman of the Spices Board, said at a press meet that the spice exports in 2007-08 had also far exceeded the target fixed for the year both in volume and value terms.
Against the target of 380,000 tonnes valued at Rs.3,600 crore ($875 million) fixed for the year, the achievement was 117% in volume, 123% in rupee value and 126% in dollar value.
“The board has fixed an export target of $1.2 billion for the year 2008-09 and we are optimistic to sustain the same growth,” he added.
During 2007-08, the export of pepper, chilli, seed spices like coriander, cumin, fennel, fenugreek and other seeds showed substantial growth both in volume and value compared to last year. The export of value-added products like curry powder, mint products and spice oils and oleoresins had also shown impressive growth during the period.
However, export of some of the items like cardamom (large) ginger, turmeric, celery, garlic and nutmeg and mace fell short of last year’s performance. For vanilla, because of competitive price advantage, the export volume increased substantially by 60% in 2007-08. However, the value decreased by 11% due to low unit value when compared to last year.
The export of chilli from India reached an all-time high of 209,000 tonnes valued at Rs.1,097.50 crore accounting for a share of 47% in volume and 25% in value of the total export of spices and spice products from the country.
The stringent quality measures implemented by the Spices Board made Indian chilli more acceptable in the international market. Moreover, the lower output by major producers like China, Pakistan also helped India to achieve performance, Mr. Kurien said, adding that the board had also suggested e-auction in chilli at Guntur to fetch better prices for farmers.
The export of ginger declined both in terms of quantity and value as compared to 2006-07. The decline was 11% in volume and 30% in value.
The domestic price of ginger, which was in the range of Rs.45 to Rs.65 per kg in 2006-07, went up to Rs. 80 per kg in March 2008. The higher prices made Indian ginger uncompetitive in the international market.
Source: The Hindu
During the year, a total of 444,250 tonnes of spices and spice products valued at Rs.4,435.50 crore ($101.80 million) were exported from the country as against 373,750 tonnes valued at Rs.3,575.75 crore ($792.95 million) the previous year.
V.J. Kurien, Chairman of the Spices Board, said at a press meet that the spice exports in 2007-08 had also far exceeded the target fixed for the year both in volume and value terms.
Against the target of 380,000 tonnes valued at Rs.3,600 crore ($875 million) fixed for the year, the achievement was 117% in volume, 123% in rupee value and 126% in dollar value.
“The board has fixed an export target of $1.2 billion for the year 2008-09 and we are optimistic to sustain the same growth,” he added.
During 2007-08, the export of pepper, chilli, seed spices like coriander, cumin, fennel, fenugreek and other seeds showed substantial growth both in volume and value compared to last year. The export of value-added products like curry powder, mint products and spice oils and oleoresins had also shown impressive growth during the period.
However, export of some of the items like cardamom (large) ginger, turmeric, celery, garlic and nutmeg and mace fell short of last year’s performance. For vanilla, because of competitive price advantage, the export volume increased substantially by 60% in 2007-08. However, the value decreased by 11% due to low unit value when compared to last year.
The export of chilli from India reached an all-time high of 209,000 tonnes valued at Rs.1,097.50 crore accounting for a share of 47% in volume and 25% in value of the total export of spices and spice products from the country.
The stringent quality measures implemented by the Spices Board made Indian chilli more acceptable in the international market. Moreover, the lower output by major producers like China, Pakistan also helped India to achieve performance, Mr. Kurien said, adding that the board had also suggested e-auction in chilli at Guntur to fetch better prices for farmers.
The export of ginger declined both in terms of quantity and value as compared to 2006-07. The decline was 11% in volume and 30% in value.
The domestic price of ginger, which was in the range of Rs.45 to Rs.65 per kg in 2006-07, went up to Rs. 80 per kg in March 2008. The higher prices made Indian ginger uncompetitive in the international market.
Source: The Hindu
Indian Pepper Futures Rise Sharply
Indian pepper futures rose sharply on Friday on low arrivals in the physical market and firm export demand. Both the June and July contracts hit the initial two percent daily upper price limit.
"Indian prices are now cheaper than other major exporting countries," said an analyst with Angel Commodities Broking Pvt Ltd. A weak rupee has brought down Indian prices below Vietnam and Indonesia, she said.
The Indian rupee recently touched 13-month low against the U.S. dollar. It fell 8.8 percent since January and lost 1.6 percent in the last one week.
Pepper exports touched new highs in 2007/08 and rose 21.7 percent to 35,000 tonnes, according to the Spices Board. India, the second largest pepper producer and exporter after Vietnam, exports mainly to U.S., UK, Italy, Germany and Canada.
Supply situation is also tight in the physical market as arrivals have almost dried up, said Shardul Sharma, an analyst with Sharekhan Commodities Pvt Ltd.
In India, pepper harvesting starts in December and ends in February.
Source: Reuters
Spices at www.cradlebay.co.uk
"Indian prices are now cheaper than other major exporting countries," said an analyst with Angel Commodities Broking Pvt Ltd. A weak rupee has brought down Indian prices below Vietnam and Indonesia, she said.
The Indian rupee recently touched 13-month low against the U.S. dollar. It fell 8.8 percent since January and lost 1.6 percent in the last one week.
Pepper exports touched new highs in 2007/08 and rose 21.7 percent to 35,000 tonnes, according to the Spices Board. India, the second largest pepper producer and exporter after Vietnam, exports mainly to U.S., UK, Italy, Germany and Canada.
Supply situation is also tight in the physical market as arrivals have almost dried up, said Shardul Sharma, an analyst with Sharekhan Commodities Pvt Ltd.
In India, pepper harvesting starts in December and ends in February.
Source: Reuters
Spices at www.cradlebay.co.uk
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