Synthite Industries Ltd., the global leader in spice oleoresin manufacturing and export, with a turnover of over Rs 1000 crore, has entered masalas and curry powder retail market.
The plantation industry in Kerala has voiced its concern at the rash of problems that threaten its survival and has urged the govt to look into the matter.
Black pepper prices are inching towards the historic Rs 500 per kg mark in the spot market spurred by tight arrivals and good domestic demand.
For the first quarter ended June 30, 2013, the company has recorded 21 % drop in net profit though the total income showed a marginal decline of 1 %.
A falling rupee has been of no help to spices exporters because of low availability and higher local prices of raw materials.
Move comes when the country is planning steep cut in the import duty on wines & spirits.
India’s exports comprise roses followed by carnations, gladiolus, marigold, jasmine, tuberoses, orchids and chrysanthemums.
Seafood exports are likely to fall short of $3.5 billion achieved last year due to falling demand and declining catches.
The price of RSS-4 grade rubber used by the tyre industry has been steady in the range of 156- 157 per kg since February.
So far, jeera exports touched 45,500 tonne in 2012-13, valued at around Rs 644 crore. Spices Board had set a target of 45,000 tonne.
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