Spice exporters look to tap new markets

Exploring possibilities in Russia, Africa and Southeast Asia

- SANJEEB MUKHERJEE

Spice exporters from India are looking for newer destinations like Russia and Africa to ward off US-like shocks, despite a relaxation in tariffs by the United States (US).

“We feel it is necessary for India to broaden and explore other markets like Russia, Africa and Southeast Asia. This is to avoid being over dependent on one or two markets — US and China — which is the situation now,” Ram Kumar Menon, chairman, World Spices Organisation (WSO) told Business Standard.

The US alone accounts for 15-16 per cent of the total spices exports from India. India exports both whole spices and value-added forms (like oleoresins and ground spices) to US and China.

Spices is among the few segments within overall agriculture and allied activities exports that has shown a dip in value terms both in October and during the April-October period.