Total export of Shellac Export Promotion Council (SHEFEXIL) products during the quarter Jan-Mar 2019 has seen a growth of 15.77 percent valued at $623.25 Million when compared with the same quarter of last year. 

SHEFEXIL was formed under the aegis of Ministry of Commerce and Industry to facilitate India’s exports of shellac and lac based products. “Top export products of SHEFEXIL during the quarter of Jan-Mar 2019 are Guar gum treated and pulverized, essential oil of mint, extracts, Psyllium husk (Isobgul husk), Menthol crystal, Guar gum refined split, Guar meal, Essential oil of peppermint etc.  The Top 10 export markets of these products are USA, Iran, China, Hong Kong, Germany, Netherland, Russia, Japan, Italy and Norway,” said the official.

According to a summary from the organization, overall exports of SHEFEXIL products have increased in the regions such as North East Asia, West & East Asia and Africa whereas, export has declined in the regions such as North America, EU, ASEAN, Latin America and South Asia.

“Exports have increased in the panels viz. vegetable saps and extracts and other vegetable materials. The reason for increase in the exports are increase in the export of menthol crystal due to huge demand in international markets such as EU, USA, Russia etc; increase in the export of Gymnema extract to Japan due to increasing demand, rupee depreciation against USD and increase in export of Mint oil to Hong Kong and Singapore due to surge in demand,” explained an official of the Commerce Ministry.

In order to increase the exports, the organization have made specific suggestions to the Government like extending Merchandise Exports from India Scheme (MEIS) benefit to Guar gum treated and pulverized; refund of embedded taxes and conclude  the Free Trade Agreements (FTAs)/Agreements as early as possible.

Apart from above suggestions an increasing awareness on Indian Herbs, arranging events for Brand creation and investing in Product Development and Brand creation has also been favoured.