THE CONFERENCE PROCEEDINGS - IFEAT

The table provides an example of the estimatedaverage annual income of intercropping for2007~2009. You can see that the combinationof rice-wheat-mint in red and rice-potatoesmintin blue gives the farmers the highestincome. Our team collected these data duringour routine survey in a year. However, it servesas an estimate only.Average Annual Income ofIntercroppingMint TradeIndia – Main Cornmint ExportersMajor Exporters1 Arora Aromatics 15 Narain Terpene & Allied2 B.D Aromatics Pvt Ltd., 16 Nav Bharat Impex3 Banwari Aromatics 17 Nectar4 Everest Flavour 18 Neeru Enterprises5 Fine Fragrances Ltd., 19 Nishant Aromas,6 Fine Organics 20 Quality Flavours Export7 Hundustan Mint 21 Sangam Aromatics,8 Indo-swift 22 Sharp Menthol9 Jindal Drug 23 Siddhant10 K.V. Aromatics 24 Som Extracts Ltd11 Kaizen Organic 25 Surya Pharm12 Kancor Ingredients Ltd, 26 Swati Menthol13 Meher Impex 27 Tulip Impex14 Mentha & Allied 28 !!!!!!!The table lists India’s main cornmintexporters. They are arranged alphabetically,and the list is not meant to be exhaustive.Some of them may be out of business. This isnot uncommon since there are newcomers inthe market, and old companies leaving thescene. In terms of size, you have Sharp (22),Jindal Drug (9), and K.V. Aromatics (10).The graph illustrates theexchange rate of one US dollaragainst the rupee since Jan2011. Basically, Indianexporters are very sensitive toexchange rate changes. InChina, we see the RMBappreciating since 2006~7,while the rupee’s depreciationor appreciation is more difficultto predict. For example, withinthe last couple of weeks, therupee went from 56 to 52 then54 to US$ 1.00. These changessimply increase the difficulty ofpredicting the prices ofmenthol.Average Exchange Rate - US$/Rupee Jan 2011~ Jul 201217