International trade in medicinal plants both within South Asian countries and East Asia, Europe and North America is growing in economic importance.
Citter Agro Exports
India exports most of its Medicinal plants to New Zealand, Canada and Philippines and is the 2nd largest exporter of Medicinal plants in the World.
The top 3 exporters of Medicinal plant are United States with 1,214 shipments followed by India with 1,124 and China at the 3rd spot with 870 shipments.
Top 3 Product Categories of Medicinal plant Exports from India are
HSN Code 12119029 : 12119029
HSN Code 12119099 : 12119099
HSN Code 12119022 : 12119022
These facts are updated till 23 May 2023, and are based on India Export data of Medicinal plant.
There are about 6 top exporting ports in India which trade Medicinal Plant from India. They are Tuticorin in Tamil Nadu ICD exports the majority of Medicinal Plant shipments from India with the share of 69.0% , followed by Delhi Air Cargo with 23.0%.
Moving to top importing ports for Medicinal Plant from India. AUCKLAND port solely imports 34 shipments of Medicinal Plant from India and holds the largest share of 22.0%.
The Export-Import Bank of India, in its report for medicinal plants related trade in India is poised to grow to $5 trillion by the year 2050. Unfortunately, India’s share in the global medicinal plants related export trade is just 0.5 percent.
India’s share in the global export of medicinal plants just 0.52 percent not withstanding its having 15,000 species of such plant. The market structure for medicinal plants in most states of the country is weak and focuses largely on local trading. Over the past 10 years there has been a considerable interest in the use of herbal medicines in the world.
Regarding the export of medicinal plants India’s contribution to the international market is comparatively very low. Utilizing our biodiversity and proper planning, India products can very enter the overseas markets. This can be achieved only through proper development of medicinal plants, standardization of the extracts and keeping the quality.
This is exactly what Citter Agro is doing now presently and building its own Export Market partnering directly with the buyers.