Mumbai: The 14th edition of the World Spice Congress (WSC), to be held in Mumbai
during 16-18 February 2023, is all set to open up newer opportunities to promote trade
with the G20 countries.
Organized on the sidelines of the prestigious G20 Presidency of India, the event will
have key policymakers, regulatory authorities, spice trade associations, government
officials as well as technical experts from key G20 countries, among others.
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.
Changing Trends
The pandemic has resulted in increased awareness of 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; especially 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, the recession seen across major global markets impacted the
Indian spices were exported as well. Industry reports that the overall demand is stagnant or ebbing and buyers in major markets are restricting their purchases, only to meet short-term needs.
As per the Ministry’s data; the export of spices from India during 2022-23, for the period
up to November 2022 is trailing by nearly 6.5% in USD terms compared to
the corresponding period in the previous year. The current trade estimate for April –
November 2022 for spices is 2469.02 Mn USD (INR 19580.56 Crore).
During 2022-23, there has been an increased demand for certain spices, especially
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 show a positive trend (April- October 2022
increase of 13% in quantity, and 23 % in value (INR) compared to the previous year).
As far as spices are concerned, maximum trade happens during the last quarter of the
year and 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 4 billion mark.
The WSC 2023 will provide a platform to further explore the possibility in this area.
WSC 2023 Highlights
The WSC 2023, supported by the Govt. of India, will be bigger and more diverse compared to
the previous editions and will have special state pavilions and commodity pavilions. The
event will provide an opportunity to meet the global spice fraternity and promote the
Indian brands before a bigger audience. | )
Shri Piyush Goel, Hon’ble CIM, Government of India, and Smt. Anupriya Patel, Hon’ble
Minister of the State, Ministry of Commerce and Industry, Govt India have consented to
grace the WSC 2023, to be held at the CIDCO International Convention Centre, Navi
Mumbai. The hon’ble CIM will also distribute the Trophies and Awards for Excellence in
Exports of Spices on 17 February 2023.
For more details visit www.indianspices.com
