Future Impact of Export of Herbal Products to Local Herbal Industry

Trade in herbal products has been going on since time immemorial particularly, the spices. The products selected in the study had been popular with traders and the quantities exported indicated irregular supplies and demands. Continuous export of these products may not be economical and especially so, when there are alternatives available in the market. Not only will these alternatives push the prices of natural products down, they can also be obtained in large quantities within a short time. This is true for those that can be synthesized artificially.

The current situation in the country indicates that local herbal growers are not able to sustain production. Imports of similar raw materials are necessary in maintaining the continuous supply of herbal products to the food and other industries. Profits also play a role in the import and export of the raw materials. Efforts should be made towards providing more information on the trade and business requirements, including incentives that will enhance the participation of local herbal players in the global supply chain. Such information may be made through the media as well as on-line. Training of skilled workers, research personnel and entrepreneurial manpower will assist the industry to expand further and flourish.

Due to the fluctuations in prices and quantities of supplies, export of raw materials and herbal products had not progressed to an acceptable level. Marketing efforts by the various goverment agencies had found it difficult to strategize and capture international markets.