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Category: WTO Sub-category: World Trade Organisation
Document type: news
Kochi is to be the hub for the $3 billion global spice trade with world trade organizations coming under one umbrella, the World Spice Organization (WSO), to be headquartered here. Important trade associations like the American Spice Trade Association, the European Spice Association are to be part of this organization.
India accounts for 48% of the world's spice trade and is unique in having more than 65 varieties of spices from hot chillies and pepper to flavors like vanilla. Apart from food security - to ensure sufficient production to meet growing demand, the major threat before the industry is the ever-growing stringent safety norms which make things difficult for producing countries to meet. Quality norms across the consuming countries are shadowing the spice industry.
The World Spice Organization (WSO) will be a platform for the farming community and experts from producing countries to share their farming practices and experiences so that sufficient quantities of spices are grown.
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