Egypt, along with a handful of countries like Syria, Turkey and Vietnam, is a tough competitor for India’s spices producers, according to a report by Financial Express (FE) on Saturday.
According to the report, Egypt meets 50 percent of the total world demand, thus eating into India’s exports.
Therefore, in a bid to hold on to their market share, India's spice exporters have resorted to cost-cutting on various fronts. This, say exporters, will help them compete, albeit partially, with players from the competing countries, with cost reductions in the range of 3-5 percent.
The FE said a decline in production and high domestic demand in India last year were behind the low-level exports of spices like pepper, chilli, turmeric, celery, fennel seeds, fenugreek seeds and curry powder.
The US is a key importer of Egypt’s spices – Albawaba.com
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