Spices Board banks on value-added products to boost exports

Posted by Daily Shipping Times on 06-01-2017        Tweet

NEW DELHI: With conventional spices from India unable to post considerable growth in exports, the Spices Board has gradually turned towards value addition in the form the brand 'Flavourit'. The board aims to partner with private players to sell premium spices, value-added products such as spice chocolates, mouth fresheners and cosmetic products in international markets.

Flavourit Spice Trading Ltd (FSTL), a Spices Board enterprise, has invited expression of interest (EoI) from prospective investors to take up franchises for 'Spices India' signature stalls in overseas markets, though responses so far have not been so encouraging.

India's spice production has remained at around six million tonnes during the past five years. The board also opened its first signature outlet 'Spices India' at Delhi early this year.

"We have formed a company Flavourit to develop and promote value addition in Indian spices and invited investors to sale in global as well as in domestic market. However, so far no one has come forward to join hand with the board," said A Jayathilak, Chairman, Spices Board India.

Prakash Namboodiri, Chairman of the All India Spices Exporters Forum (AISEF) said, "The idea of the board is good but many companies already selling value added spices products in India and abroad."