The Indian subcontinent has long been known to be one of the world’s top exporters of spices, and today, about 40% of all spices in the world are exported from India. In 2015, the five most exported Indian spices were cloves, cinnamon, cardamom, nutmeg, and black pepper. When you consider how well-loved these spices are in foreign markets such as Libya, it’s no wonder that India remains an industry leader in spices exports. Let’s take a closer look at how these top five Indian spices were exported to Libya in 2021.
Spices feature among the most traded agricultural commodities in the world today. It is but natural that India, which is the world’s leading producer of spices, would be holding a position of prominence in this trade. The export of spices and condiments feature significantly in the total agricultural exports from the country. As per 2017-18 estimates, India exported approximately 10.28 lakh tonnes of total spices which were around 7.98 % share of total exports.
India is also known as the land of spices with the spices & condiments from the region, enjoying high credibility globally. Spices are the bark, buds, blossoms, leaves, roots, and seeds of plants that are used to enhance the flavor of cuisines or even as appetizers. They come with many beneficial properties and find application in food & beverages, pharmaceuticals, and cosmetics industries.
Spices have been traded since ancient times and India has been at the helm of this trade. It all started with Portuguese navigator Vasco de Gama making the first sea voyage from Europe to India in 1498 and opening up trade routes. At present, India grows more than 60 different kinds of spices and produces 60 lakh MT, of which 11 percent is exported to more than 150 nations. Today, the country is the largest exporter of spices followed by Vietnam and China. The exquisite taste, aroma, texture and medicinal properties of black pepper, cardamom, cumin seed, mustard seed and fenugreek are nurtured mostly in small land holdings and organic farms in the country.
In FY 2020, the Indian organic spices market stood at 200 million dollars with an estimated CAGR of 11 percent over the next five years. This buoyant growth rate is mainly being driven by the increasing awareness among end-users about the harmful effects of chemicals, pesticides and additives on health.
India – known as the land of exotic spices – has a well-documented trading history with many civilizations of the world since ancient times. The earliest trade routes connected the country with Europe, the Middle East, and the rest of the world and have been in use for centuries.
The outbreak of corona has impacted the demand and supply industry. The borders of the countries were closed, which concluded in high demand and less supply. This situation affected almost every industry in the world. However, Covid-19 also brought in opportunities for various industries, including Spices Industry. Considering the ill-effects of corona on a person’s health and in order to increase a person’s immunity, numerous Health Experts worldwide suggested adding some specific spices to the meal. This boomed up the demand for Spices worldwide, which eventually boosted the Spices Industry in many good ways. Indian Spices Industry, being the largest exporter of Spices in the world, was impacted hugely by the pandemic, thankfully in a positive manner.
Spices are the agri-commodities which are not only essential for food but also very high in demand internationally. There are huge markets for spices worldwide where importing and exporting Spices is a remarkable business for evaluators, importers, Spice Exporters, and manufacturers.
A spice is a seed, fruit, bark, root, or other plant substance used for flavoring or coloring food. Spices are different from herbs, which are the leaves, flowers, or stems of plants used for flavoring or as a garnish. In India, spices are considered as warm and “Masaley”. The Indian spices industry is one of the biggest industries in the world that makes it the biggest producer and one of the largest exporters across the globe. According to the latest research, India has exported spices worth US$ 3.63 billion in 2020 through various digital e-commerce B2B platforms.
Spices are the edible portion of plants that have healing properties and can radically change the flavor and aroma of a cuisine. It is becoming more integrated with wellbeing. The retail food producers have expanded the application of spices and seasonings to match the taste and preferences of the many ethnicities of consumers across the world, propelling the industry ahead. Here, you’ll get deep insights into the global market of spices.
Manufacturing Process of Spices and Its Benefits
A spice is a bark, root, flavoring agent, seed, fruit, and other plant products that enhance the aroma and taste of the food. India is often called ‘The Land of Spices.’ The history of spices dates back to the Indus Valley civilization 4000 years ago. Spices were among the few grounds for outsiders to conquer India. Most spices in India are used in powder or seed form. Some popular spice yields in India are Turmeric, Cardamom, White Pepper, Black Pepper, Clove, and Cumin. Spices from India are still in high demand in the international market. Punjab, Kerala, Gujarat, and some north-eastern states of India are the most popular for the cultivation of spices. Top Importers of spices are the USA, Hong Kong, Vietnam, China, UK, Bangladesh, Thailand, Malaysia, Sri-Lanka, and UAE. In the fiscal year 2019, the export values of spice sum up to 231 million Rupees. The annual turnover of spice in India increases by 40,000 crores. The expansion of the spice business is a 7% gain in volume, 8% gain in currency.