The sixth edition of the International Spice Conference will focus on the challenges the spice industry is currently experiencing since the Covid-19 outbreak started. The conference is one of the most critical events in the Spice Industry to be held from January 19th to the 22nd of the month at the ITC Grand Chola, Chennai, and is hosted by the All-India Spice Exporters Forum (AISEF) (the premier organization representing spice exporters from India) and the Cochin Chamber of Commerce & Industry.
Believe it or not, big reputed brands are foraying in Indian spices market. Foraying of branded players like Emami, TCPL (Tata consumer products limited) and ITC (Indian tobacco Company) in Indian spices market is not a new trend but biggest of names have given spices market a miss. Spices trade has always been accepted as small scale industry and only 40% of spice market is branded. India is known for its diverse tastes and quite naturally spices market here is segmented. Popularity of different spices in different segments of Indian spices market is simply decided on the basis of regional taste preferences. A spice may be rage in one region and would find no takers in other regions. Thus local processing of spices to cater to local demand has been the hallmark of Indian spices market. Go to any neighborhood provision store and you will find limited stocks of branded spices lying among stacks of unbranded spices. This situation reflects the reality of ₹60000 crore worth Indian spices market. 60% of Indian spices market is unbranded.
Yemen is home to the world’s largest spice market. Over 500,000 metric tons of Indian spices are imported every year from India. India is a major exporter of spices in the world, and it has been exporting its spices to Yemen for many decades ago. There is a growing demand in Middle East countries such as Saudi Arabia and United Arab Emirates (UAE) for Indian spices. Here are five types of spices exported from India to Yemen:
Saffron and cardamom are two spices that are most profitable to trade in global market. In 2020, global saffron market was pegged at $374.6 million and expected annual CAGR between 2020 and 2028 is pegged at 8.5% for it. This annual CAGR is expected to be achieved on the back of medicinal and cosmetic application of saffron. Saffron has notable health benefits and is a known source of antioxidants. Cardamom is second only to pepper in usage in food preparations and cardamom trade is comparable to saffron trade in profitability.
The world’s demand for black pepper has been steady over the past few years. It is a common spice that is used in various dishes and cuisines around the globe. India is among the top exporters of this spice, with significant shipments to Africa and Madagascar. Read on to find out more about the Indian export of black pepper to Madagascar.
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.
If you love Indian food, you’ve probably had some of the following spices before: cumin, turmeric, coriander, and garam masala. But if you’re interested in cooking with spices from other cultures and countries, there are many other options you might like to try as well. So which ones should you explore first? The top five most popular spices exported from India include these choices below.
The spice trade has been around since the time of the ancient Greeks, but its roots are actually much older than that. It’s been said that the spice trade began between the Mediterranean and India about 3,000 years ago, though some people believe it may have begun even earlier than that—and in a different region entirely. What we do know is that spices were incredibly valuable back then, which made people want to trade for them more than anything else. This led to both sailing voyages and land-based trading routes from Europe all the way to India, just to get their hands on this aromatic merchandise!
Spices were not only used as flavorings or food preservatives, but they were also used in religious ceremonies, cosmetics and embalming fluids, and even medicines and alternative remedies since ages (for example, cinnamon was once thought to cure the plague). This made spices highly sought after by people all over the world, and many wanted to get their hands on them at any cost. The result? The Spice Trade was born!