World Spice Organisation aims $10bn spices exports from India by 2030
Experts deliberate on food safety, compliance and sustainable practices at National Spice Conference at Hyderabad on Saturday
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Hyderabad: The World Spice Organisation (WSO), a non-profit technical partner of the All-India Spices Exporters Forum (AISEF), has set an ambitious target to achieve $10 billion worth of Indian spices exports by FY 2030 from $4 billion in this fiscal. It has hosted the second edition of the National Spices Conference 2023 in Hyderabad on Saturday.
The two-day conference was dedicated to the theme "Food Safe Spices - The Way Forward to a Stable & Sustainable Income”. The experts and industry leaders in the conference deliberated on crucial the issues surrounding the safety and sustainability of spices. Several farmers and farmers producer organisations (FPOs) have attended the conference on the first day.
“Indian spices market has reached about Rs 1.14 lakh crore in terms of value. However, only 15 per cent of the production at Rs 33,000 crore ($4 billion) is being exported to other countries while the rest is consumed in the domestic market. The export market is growing at a compound annual growth rate (CAGR) of 8-10 per cent,” Ramkumar Menon, Chairman of WSO told Bizz Buzz.
He said, “Because of better incomes, convenience and changing lifestyles, the demand for branded spices is increasing drastically in the domestic and global markets. More agricultural startups are coming into this space to establish quality products. With this, the exports are likely to reach Rs 40,000 crore ($5 billion) by 2025 and Rs 80,000 crore ($10 billion) by 2030.”
Ramkumar emphasized the importance of collective efforts in ensuring the safety and sustainability of the spice industry. He said, “Ensuring the safety of our spices is not only a responsibility but a commitment towards building a resilient and sustainable future for our farmers and consumers alike. Industry should also ensure that all stakeholders have access to a better and more sustainable income."
In his inaugural address, Dr Homey Cherian, Director of the Directorate of Arecanut and Spice Development (DASD), Ministry of Agriculture, said: “Spices are an important driver of economic growth. Government policies are directed to strengthen this sector giving emphasis on sustainable growth and food safety.”
Dr A B Remashree, Director Research Spices Board, shared insights to promote safe spice cultivation. She stated, “Food Safety is non-negotiable in the spice industry. Our strategies must reflector commitment to deliver safe and high quality Spices to consumers worldwide.”
Additionally, Cherian Xavier, Chairman of the Business Committee for NSC 2023, said: "The theme 'Food Safe Spices- the way forward to a stable and sustainable income' is not just a conference focus. It is a call to our industry to shape our future responsibly and sustainably.”
The National Spice Conference 2023 promises to be a pivotal event, fostering collaboration and dialogue to ensure the safety and sustainability of the spice sector. The second day of the session will present more insights on the topics such as better input management and improving productivity, innovative processes and market trends and innovative packaging of spices: challenges and opportunities.
The event provides a forum for industry leaders, experts, and stakeholders to engage in discussions and implement strategies aimed at enhancing the spice sector as a whole. The event was attended by various FPOs and NGOs, collectively representing approximately 25,000 farmers associated with the National Sustainable Spice Programme (NSSP).
The NSSP is a prominent initiative of the WSO, which focuses on enhancing the production of food-safe and sustainable spices in India, while also facilitating market access for these sustainably produced goods.
