Indian rice exports up, spice down

09 February 1999

Indian rice exports up, spice down

INDIAS agricultural exports rose 37% for the first half of its fiscal year on the back of a strong showing by non-basmati rice sales and wheat exports.

But industry sources expect spice exports to fall short of targets this year because of a drop in demand and prices.

Total exports from India of food, fruit, livestock and other agricultural goods between April and September last year hit Rs43.6 billion (£628m), against Rs31bn for the same period in 1997.

Wheat exports also recovered from negative growth of 99% a year earlier to show a 332% rise to Rs15.6m; and non-basmati rice exports rose 184% to Rs16.7bn.

Other strong exports included basmati rice, floriculture and seed products but the Indian agricultural authoritys quarterly report noted a declines in exports of livestock, dairy and wheat products.

Spice exports are also expected to fall short of the governments target of 248,050 tonnes valued at Rs17.18bn (£246m) for the financial year ending in March.

Exporters said only 55% of the volume and 63% of the value had been achieved and it was not possible to make up the difference during the next two months.

The Spices Board said India exported 137,495 tonnes of spices valued at Rs10.86bn between April and December 1998, against 170,652 tonnes worth Rs9.99bn in the same months of 1997.

• Financial Times 09/02/99 page 32 (News Digest)