The Corona virus outbreak has given world deep chills. Entire Chinese market has seemingly collapsed due to shutdown of trade and commerce in the country. China has also shut down all the export and import trades across the world.
As per the most recent updates, the industry of spices and herbs is also affected due to the onslaught of Corona virus. Seafood and spices shipments have became vulnerable in Beijing, China – An industry worth $10 Billion dollars has been tremendously affected due to spices and herbs.
China is among the largest importer of spices and herbs. China imports a huge deal of spices including red chilli, black pepper, cardamom, turmeric, cumin etc from India on regular basis. Due to the onslaught of Corona however, the demand for spices might turn down since country is thriving to fulfill the basic needs of medicines, masks and other health equipment first.
However, due to shutting down of Chinese Exports, the Indian Exporters might be able to raise opportunities to capture the Chinese Spices Market in the world. China besides being an importer of spices, is also 11th largest spices exporter – Indian exporters of spices may pounce off to capture the market during the ongoing crisis in China.
Read more about Corona virus and it’s affect on the economy here https://www.livemint.com/news/india/indian-firms-brace-for-china-supply-shock-as-shutdown-extends-11581266850122.html