INDIAN spice exports will cross the $1bn mark in the current financial year, said V J Kurien, chairman of the Spices Board. Until December, the country had exported spices worth $830m, despite the economic recession. Speaking at a press conference, Mr Kurien said in the first half of the current year, export sales were suffering due to the economic downturn. However, exports of chilli, coriander, mint and value-added spices picked up later, he said. In 2008/09, total exports touched 470,520 tonnes, valued at Rs53bn ($1.16bn). Out of the estimated global trade of 850,000 tonnes (valued at $2.2bn), India accounts for a 44% share in quantity and 36% in value terms... Read More