09 May 2011

Sri Lankan Spice Industry Records 65.56pct Growth in 2010

08th May 2011, www.dailynews.lk, By Sanjeevi Jayasuriya

The Sri Lankan Spice Industry has recorded a 65.56 percent growth in 2010 compared to the corresponding period previous year. Sri Lanka exports spices of different categories worth around US $ 175.95 million. It is an increase of 65.56 percent growth when compared with last year, Spice and Allied Product Producers’ Association Chairman Christopher Fernando told Daily News Business.
Spices export data: According to above data we can see spices exports have registered substantial growth during the last couple of years, he said.

The spice industry has been witnessing phenomenal growth rate in international sector. It is mainly due to the change in the lifestyle patterns of the consumers all over the world.

When you look around the world consumption trend toward natural products has also contributed to the increased global demand of spices and culinary herbs. Spices and derivatives are booming because these products are used in a number of industries, beverages, food processing, hygiene products and including of pharmaceutical medicines.

Spices and culinary herbs remain concentrated in Europe and in a number of countries. Canada is fast emerging as one of the leading players in the international spices and herb industry.

There are certain countries acting as leading producers and trade of some particular spice and culinary herb for example India is popularly known for being a source of cloves.

Indonesia has supplied the global market with cinnamon and nutmeg. The USA and Mexico are the major buyers for our cinnamon.

India, Germany, France, Gychillie Islands, Madagascar, Egypt are best selling markets for our spices.

Related Info :

Sri Lanka Spices to Have value Addition. Spice Council Website Launched to Provide Market Information

Sri Lankan Spices Can Double Per Capita Incomes in 5 Years

A New Promotion Strategy for 2011, Visit Sri Lanka Year, with A Theme Assigned for Each Month

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