The growing potential for marketing high quality spices is driving the Indian Government to New Zealand on a five-day mission next month.
Spices Board of India officials will be at Stamford Plaza Hotel from November 1 to 5, attempting to find new buyers, apart from fostering business deals with existing ones.
Although the Spices Board constantly faces a sellers’ market with the demand for its products far in excess of supply, recent years have seen rising competition, price wars and tightening economic conditions, all of which have meant realignment of marketing and export strategies.
The Spices Board is responsible for development of production and overseas markets for more than 50 products. Some of them are Cardamom (small and large), Celery, Chilli, Coriander, Cumin, Curry Powders Paste, Fennel, Fenugreek, Garlic, Ginger, Mint, Nutmeg & Mace, Other Seeds, Other Spices, Pepper, Spice Oils & Oleoresins and Turmeric.
The visiting officials will endeavour to increase India’s share of the spices market.
According to the Board’s 2008-2009 Annual Report, India’s total exports of spices and spice products were 470,520 tonnes, valued at $US 1.17 billion, accounting for 6% rise from the previous year’s figure of 444,250 tonnes ($US 1.10 billion).
Current production is estimated at 3.2 million tonnes valued at $US 4 billion.
Dream World New Zealand Limited, an Auckland based company which has been appointed as the Event Manager of the forthcoming programme, said the visiting delegation will have one-to-one meetings with existing and prospective importers on November 2 and 3 at Stamford Plaza Hotel from 10 am to 12 pm.
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India’s Commerce and Industry Ministry, which controls the Board, is establishing Spices Parks at Bydagi (Karnataka), Chhindwara (Madhya Pradesh), Guntur (Andhra Pradesh), Idukki (Kerala), Jhalawar (Rajasthan), Sivaganga (Tamil Nadu) and Mehsana (Gujarat) to boost production and exports.