Boost value addition in spices to achieve $10 bn export target by 2030 : WSO

Context

Regardless of being the largest producer and exporter of diverse varieties of spices in the world, India’s share in the global seasoning market, pegged at $14 billion in 2024, is only a paltry 0.7%, against China’s 12% and U.S.’s 11%, said Ramkumar Menon, chairman, The World Spice Organisation (WSO).

India currently exports 1.5 million tonne of spices of all kinds worth $4.5 billion, commanding a quarter of the global spice market valued at $20 billion.

Mr. Menon said currently only 48% of India’s spice exports were valued-added products while the remaining bulk hits the markets as culinary whole spices.

To achieve the Spices Board of India’s export target of $10 billion by 2030, the country’s share in value-added spices should rise up to 70%, he opined.

World Spice Organisation

WSO is a not-for-profit organisation registered under the Travancore Cochin Literary, Scientific And Charitable Societies Act, 1956 with the primary objective of facilitating the Spice Industry in dealing with issues of “Food Safety & Sustainability”.

WSO seeks to achieve its objectives by involving all its stakeholders—the general public, the industry, the academia and the end-users.

We also seek to strengthen the ‘Corporate Social Responsibility’ initiatives of the industry.

Spice Board of India

Spices Board was constituted on 26th February 1987 under the Spices Board Act, 1986 with the merger of the erstwhile Cardamom Board (1968) and Spices Export Promotion Council (1960).

There are five statutory Commodity Boards under the Ministry of Commerce and Industry

These Boards are responsible for production, development and export of tea, coffee, rubber, spices and tobacco.

It is responsible for the export promotion of the 52 scheduled spices and the development of Cardamom.

Spices Board is the flagship organisation for the development and worldwide promotion of Indian spices.

The Board is an international link between the Indian exporters and the importers abroad.