Advertisement

Business

Updated on: Friday, August 20, 2021, 10:32 PM IST

Spices Board taps Thailand market for further growth

Thailand is an important destination for India's spices and it opens opportunities and offers ample avenues to expand this further/ Representational image |

Thailand is an important destination for India's spices and it opens opportunities and offers ample avenues to expand this further/ Representational image |

Advertisement

The Spices Board, in association with the Indian and Thai Embassies, on Friday organised an International Buyer Seller Meet (IBSM) and a webinar bringing together spices importers and exporters, trade associations, chamber of commerce, leading supermarket chains, and departmental stores from both the countries.

India's spice exports amounted to more than 17 lakh MT valued at more than Rs 30,000 crore during fiscal year 2020-21. This scaled the landmark level of $4 billion, compared to the previous year despite the pandemic situation.

In all, 240 representatives from India and 60 from Thailand took part .

Thailand is an important destination for India's spices and it opens opportunities and offers ample avenues to expand this further.

India, on an average, exports 68,225 MT of spices to Thailand every year, valued at Rs 944.35 crore, which accounts for 6 per cent volume and 5 per cent in value of total spice exports. The major spices exported from India to Thailand are chillies, turmeric, garlic, and value added products, spice oils & oleoresins, and curry powders, etc.

Delivering the keynote address, Joint Secretary, Commerce, Diwakar Nath Mishra, said that India is the largest producer, consumer, and exporter of spices in the world.

"On account of the favourable agro-climatic condition of our country, spices are extensively cultivated in every state, presenting us great potential for further expansion in its production and export," he said.

Spices Board Secretary, D. Sathiyan, said they have been conducting a series of digital buyer-seller meets (BSM) for ensuring that there is no gap or hindrance in sourcing and supply of spices from the country.

"The Board is in the process of launching a unique virtual platform for export facilitation and promotion. This platform would provide the exporters with updated trade and market information in addition to the facilities for setting up their virtual office in the portal. The portal will also have the facilities to conduct virtual trade fairs and meets, seminars, workshops, training programmes etc. for the Indian spice industry," he said.

Spices Board, the link between Indian and international spice trade, has been actively taking a lead in promoting and strengthening the Indian-international spice trade for the benefits of spice community in India for many years, more so during the pandemic period.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Friday, August 20, 2021, 10:32 PM IST
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement