India’s spice exports rise over 10% y-o-y in 3Q FY26

• Chilli, cardamom drive growth, jeera exports remain under pressure
• Higher volumes support trade, but price softness caps value gains

India’s spice exports during April-December of the current fiscal (3Q FY26) increased by around 10-11% y-o-y in volume terms, reaching approximately 13.4-13.5 lakh tonnes, compared with about 12-12.1 lakh tonnes in the same period last year, as per trade estimates and Spices Board India data. In value terms, exports are estimated at around INR 29,000-30,000 crore, reflecting moderate growth as price realisations remained mixed across commodities.

The growth was primarily driven by chilli, small cardamom, and coriander, which recorded strong export demand. Chilli continued to dominate India’s export basket, supported by competitive pricing and steady demand from China, Bangladesh, and Southeast Asia. Small cardamom witnessed a sharp rise in both volume and value due to tight global supply and firm prices. Coriander exports also improved on the back of better availability and export enquiries.

However, jeera (cumin) exports declined by 10-12% y-o-y, impacted by a high base from last year and relatively weaker demand from key buyers, especially China. Despite lower production concerns in Gujarat, export offtake remained slow, indicating demand-side weakness rather than supply constraints. Turmeric exports remained stable to slightly higher, supported by steady demand but capped by ample domestic availability.

Softening prices

From a trade perspective, volume growth has outpaced value growth, indicating that exports were supported more by higher shipments rather than strong price realisation. This reflects the broader trend of softening prices in key spices, particularly in seed spices, which has kept export values in check despite higher quantities.

The key drivers behind this export performance include consistent global demand, competitive Indian pricing, and adequate domestic supply availability. Additionally, exporters have increasingly focused on maintaining shipment volumes amid price corrections to retain market share in competitive destinations like the US, UAE, and Southeast Asia.

Going forward, export momentum is expected to remain commodity-specific. Chilli and value-added segments are likely to continue driving volumes, while recovery in jeera exports will depend on revival in Chinese buying and global demand improvement. For traders, the key monitorables will be price competitiveness, China demand for cumin, and carryover stock levels, which will determine export pace and domestic price direction in the coming months.