PIB News Update: The Spices Board in association with the Embassy of India, Bangkok organized an International Buyer Seller Meet (IBSM) and a webinar bringing together the Indian spice exporters, leading spice importers in Thailand, trade associations, chamber of commerce, leading supermarket chains, departmental stores etc. The event brought together over 240 exporters from India and 60 plus importers from Thailand.
Mrs. Suchitra Daurai, the Ambassador of India to Thailand, inaugurated this International online event. In her address she highlighted the historic ties between two nations and the opportunities for Indian Spices in Thailand. Shri Diwakar Nath Mishra, Joint Secretary, Ministry of Commerce also delivered the keynote address on this occasion.
During the special address at the event, D. Sathiyan, Secretary Spices Board said “The Board has been conducting a series of digital buyer-seller meets (BSM) for ensuring that there is no gap/ hindrance in sourcing and supply of spices from the country. These BSMs benefitted farmers, traders and exporters immensely”. Sathiyan, continued “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.” He added “The portal will also have the facilities to conduct virtual trade fairs and meets, seminars, workshops, training programmes etc. for the Indian spice industry”.
As per Ministry’s data, India’s spice exports amounted to more than 17 lakh MT valued more than 30000 crores during the 2020-21 fiscal year. This scaled the landmark level of 4 billion US$ in value in dollar compared to the previous year despite the pandemic situation.
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.
India’s economic and commercial relationship between India and Thailand goes back in time to history and deeply rooted in the age-old socio-cultural relationships. 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 68225 MT of spices to Thailand every year, valued at Rs.944.35 crores, which accounts for 6% volume and 5% in value of India’s 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.
Considering the prospective growth potential, established market access, the opportunity to increase the imports by Thailand is prolific, especially for specialized spice blends like chicken curry, fish curry, meat masala, and ready to cook products. Given the consistently emerging industrial demand from food and meat processing sectors, the Board has identified Thailand as a focus country for accelerated growth for export of Indian spices.
The timely webinars, market linkage programmes and BSMs supported by trainings to different stakeholders of spices during these hard times, are an encouraging move by Spice Board towards its commitment to the spice community and a big leap towards encouraging exports as the event opened up doors of opportunity for Indian spices exporters, traders, and the entire spice fraternity of the country.