According to the Coordinating Ministry for Economic Affairs, the global demand for spices is rising amid the Covid-19 pandemic as the world is becoming more aware of its healing properties.
The ministry's food and agribusiness coordination deputy Musdhalifah Machmud noted Indonesia recorded $218 million for spice export in January-April 2020, a 19.28 percent rise from the same period in 2019.
"A market prospect that we should address is that the global spice consumption increases 2 to 5 percent per year, with a value of $16.6 billion in 2013," Musdhalifah told the Sustainable Spices Initiative Indonesia (SSI-I) virtual launch on Thursday.
Musdhalifah said major economies such as the EU, the US, and Japan amount to 47 percent of the total global spice import. She also saw a tremendous opportunity in the EU market.
"The EU holds the largest share, or 34 percent, in the global spice imports, mainly from China, India, Indonesia, and Brazil. The EU is also predicted to have a fivefold increase in spice imports in 2050."
Source: JakartaGlobe
Author: Jayanty Nada Shofa
Original published date: 30 April, 2021
Read full article here https://jakartaglobe.id/business/mother-of-spices-indonesia-eyes-to-boost-spice-export-to-the-eu
July 06, 2021
