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Financial Daily from THE HINDU group of publications Saturday, July 21, 2001 |
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AGRI-BUSINESS CORPORATE INDUSTRY MACRO ECONOMY MARKETS NEWS OPINION INFO-TECH CATALYST INVESTMENT WORLD MONEY & BANKING LOGISTICS |
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`Brand image for spices will boost exports'
G.K. Nair
KOCHI, July 20
THE value-added spices are likely to gain wider acceptance in the non-traditional markets such as developing Latin American countries, if a brand image for such items are built up.
Citing the experience in developed markets such as the US and the UK, Mr Sanjay Mariwala, a major exporter of value-added spices and Vice-Chairman of the Spices Board, told Business Line that potential for export of value-added spices to these countries
was very high. ``Our experience in exports of spices oil and oleoresin is a clear manifestation of this fact.''
Latin American countries were good markets for Indian spices and the consumers here too were price-conscious. Since ``we are the producer of these spices our chances are better,'' he said.
Indian spices were imported in bulk by developed countries and then it was packaged and exported to the Latin American markets under different brand names at higher prices. Some share of these markets could be cornered by the Indian spices exporters, he
said.
But this would call for the creation of a brand image for Indian products, Mr Mariwala said. India had all the required infrastructure such as manpower, processing and packaging technology. But ``what we lack is the marketing strategy.'' Also, there had
to be spending on market research which ``we have not been doing,''he lamented.
Pilot projects, such as the one the Spices Board was planning to implement in Brazil, should be promoted with financial and infrastructural support from the Union Government, he said. The study should focus on specific products and must also be country-s
pecific. The Indian trade missions in various countries could play an important role in this pursuit, he said.
He said export of spices in bulk was not going to show good results in the years to come because of tough competition. Whereas, value added products would show up.
Exports to American continent, except for the major markets in the US and Canada, had shown gradual increase in recent years, he said. Part of the imports by the US was for re-export to these markets, he said.
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