Despite a lot of negative impact in the global business realm due to Covid-19 or Corona Virus outbreak, there are numerous new opportunities shining for the spices exporters in India and abroad.
A continuation of our previous update on benefits of Covid-19 outbreak for spice traders, manufacturers, exporters and wholesalers (read here), we would be talking in depth about the new horizons that have opened for the spices and herbs traders around the world and specially in India.
Green Cardamom reenters Saudi Market
Saudi Arabia had previously slowed down the inflow of green cardamom which hugely affected the Indian spices exporters and manufacturers of green cardamom.
But now as Ramadan has unfurled a huge demand for the spice, Indian Spice Board has personally taken charge to test the produce of green cardamom and if passed, allowing the supply for export to Saudi.
This allows a massive opportunity for all the cardamom suppliers and traders in India to initiate exports for their procurement and produce. Read more about the world market of Green Cardamom from here.
Investors taking huge interest in spice industry
This appears to be a booming phrase for the entire spice business since global lockdown has spiked the demand for packaged food which has in effect increased the demand for grounded spices, flavorings and Oleoresins.
According to some reports, the investors around the world are looking forward to spin their fortunes by investing their shares in the spice industry.
Specially talking about the branded spice and condiments such as Eastern Condiments, Badshah Masala and Sunrise Food have decided to sell their stakes and make new investors play the role.
An indirect benefit to all the Indian spices manufacturers and traders of spices around the world would be opening of an entry point for their brand.
If you’re among those spice dealers / manufacturers planning to introduce your own packaged spice mix products to the world, it’d be a good time to start – The world is experiencing a high increase in demand for all types of packaged spices and condiments around the globe.
The reason for spice business turning out to be very interesting for investors is it’s potential capacity to expand into a recognized brand and also into several branches associated with global food market.