5 Types Of Spices Exported From India To Yemen

Yemen is home to the world’s largest spice market. Over 500,000 metric tons of Indian spices are imported every year from India. India is a major exporter of spices in the world, and it has been exporting its spices to Yemen for many decades ago. There is a growing demand in Middle East countries such as Saudi Arabia and United Arab Emirates (UAE) for Indian spices. Here are five types of spices exported from India to Yemen:

 

India is the largest exporter of spices to Yemen. Spices are a major export commodity and constitute 10% of India’s total exports.

 

Spices are among the top five commodities exported from India to Yemen. The spices exported include pepper, ginger, turmeric, cardamom, and black pepper.

 

India is the third-largest supplier of spices in Yemen after Saudi Arabia and Iran. Saudi Arabia is the largest supplier of Bulk spices to Yemen and accounts for more than 95% of its spice imports.

 

The total value of spices exported by India is about $2 billion per annum or around $1 billion in 2012-13. The main buyers include Kuwait, Oman, and Jordan who buy Indian spices at very high prices because they cannot procure them locally due to their high demand in their domestic markets.

 

Spice Trade Relation Between India and Yemen

Spice Trade:

India and Yemen have been trading spices since the early part of the 20th century. The Indian spice trade with Yemen dates back to the time when ships from India sailed across the Arabian Sea, stopping at ports such as Mocha and Saleef before reaching their destination in Yemen.

 

The history of India-Yemen relations is not a short one. It started with an effort by Shri Pundit Nehru during his visit to Yemen on 10th December 1951 where he sought cooperation between India and Yemen for joint development of oilfields in Asia.

 

After independence in 1947, India under Nehruvian socialism adopted a policy of economic liberalization and ended its self-imposed isolation from international economic activities. It opened up its economy to foreign investment and trade, especially with East Asia countries. The result was that India witnessed rapid economic growth which was reflected in increased exports from India to other developing countries such as those in East Asia.

 

Yemen has always been a key partner for Indian diplomacy in the Middle East region because of its strategic location close to Saudi Arabia, the Persian Gulf, and the Red Sea ports providing access to sea routes for Indian merchant ships sailing toward Europe as well as East Africa from Indian Ocean ports such as Mombasa or Aden port.

 

Spices Export From India 2021-2022

India is the fifth largest exporter of spices worldwide. The country’s large domestic consumption and its huge population base have resulted in continuous growth in the spice export industry over the last decade.

 

India has become the world’s largest producer of spices, with an annual production capacity of more than 3 million tons. The country has immense potential to expand its spice production capacity; however, it requires an investment of approximately $550 million to double its current capacity of 2.6 million tons per year by 2021-2022.

 

The government is actively encouraging private sector participation in the development of new areas for export growth opportunities and creating jobs for millions of unemployed youth.

 

India’s Spice Export Market: Statistics and Forecasts Findings

India is the largest producer, consumer, and exporter of spices in the Asia Pacific region. The country exports spices worth $8 billion every year mainly to other Asian countries including China and Japan. India’s total spice exports touched $9 billion in FY19 (April–March). In terms of quantity, China is India’s largest trading partner followed by Japan, Germany, and the UK among others. China accounts for almost 50% share.

 

Conclusion

We can also conclude that the decrease in the export of spices from one region to another should be understood within the context of the global trade flux and ownership of the spice processing and export facilities. Put simply, world trade is a relatively new concept. Where goods originate and their final destination, as well as the route of transit, all form part of our modern history.

 

Original Source: https://blog.tradologie.com/5-types-of-spices-exported-from-india-to-yemen/