Spices Board will explore new markets for Indian spices in G20 countries with the Union Government giving an impetus to promote trade between India and the G20 nations. The 14th edition of World Spice Congress (WSC), to be held in Mumbai from February 16 to 18 will discuss the possibilities of exploring newer opportunities to promote trade with the G20 countries.
The WSC will be attended by key policy makers, regulatory authorities, spice trade associations, government officials as well as technical experts from key G20 countries. “This is the first WSC being held post pandemic. It will provide a platform for the stakeholders to discuss the industry’s current trends after COVID-19 and together chart out a way forward. The event has special business sessions dedicated to promoting spice trade among the G20 countries,” said the officials of Spices Board at a press conference in Mumbai today.
According to them, the pandemic has resulted in an increased awareness on the health benefits and immunity boosting properties of spices globally. “This is evident from the increased demand for Indian spices, especially traditional Indian spices such as turmeric, ginger, pepper and seed spices, mainly cumin and fenugreek. All these have registered a surge in demand after COVID-19. The Indian Spice Industry passed the USD 4 billion mark consecutively during the last two years 2020-21 and 2021-22. The demand for spices in the domestic market also grew positively during this period.
During 2022-23, there has been an increased demand for certain spices, especially the seed spices including cumin, fenugreek, Bishop’s weed seed (Ajwanseed), Dill Seed, Poppy Seed, Aniseed, Mustard, etc. Garlic has registered an increase of 170% in quantity during April-October 2022 compared to the same period last year. Some other spices such as Saffron, which had a bumper crop in the current season; Asafoetida, Cinnamon, Cassia, Cambodge, Spices (Nes), etc., also shows a positive trend. Value added products of spices such as curry powder/paste also shows a positive trend (April- October 2022 increase of 13% in quantity, 23 % in value (INR) compared to the previous year). The Indian spice industry is looking forward to increased export of spices during January -March 2023, which is expected to take the total exports towards the USD four billion mark.
The WSC 2023 will be attended by Piyush Goel, Union Minister for Commerce and Industry and. Anupriya Patel, Union Minister of the State for Commerce and Industry. The WSC is organized by Spices Board with active participation of Spice Trade Associations in India like Indian Spice & Foodstuff Exporters’ Association, Mumbai, Indian Pepper and Spice Trade Association, Kochi,Indian Chamber of Commerce, Kolkata and Federation of Indian Spice Stakeholders, Unjha, Gujarat.
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