Current Perspective in the International Trade of Medicinal Plants Material: An Update

Title:Current Perspective in the International Trade of Medicinal Plants Material: An Update

Volume: 22 Issue: 27

Author(s): Karan Vasisht, Neetika Sharma and Maninder Karan

Affiliation:

Keywords: Medicinal plants, derived/related materials to MAPs, phytopharmaceuticals, HS 1211, international trade, trade statistics, export and import.

Abstract: Background: The recent years have seen an increased interest in medicinal plants together with the therapeutic use of phytochemicals. Medicinal plants are utilized by the industry for the production of extracts, phytopharmaceuticals, nutraceuticals and cosmeceuticals and their use is expected to grow faster than the conventional drugs. The enormous demand of medicinal plant material has resulted in huge trade both at domestic and international levels. Methods: The trade data of medicinal plant material with commodity code HS 1211 (SITC.4, code 292.4) and their derived/related products which are traded under different commodity codes has been acquired from COMTRADE, Trade Map, country reports, technical documents etc for the period 2001 to 2014. The data was analyzed using statistical tools to draw conclusions. Results: The significant features of the global trade; the leading source, consumer, import and export countries; and the striking trends are presented. The trade of the ten key countries and the selected important items is also discussed in detail. The conservative figure of trade of medicinal plants materials and their derived/related products including extracts, essential oils, phytopharmaceuticals, gums, spices used in medicine, tannins for pharmaceutical use, ingredients for cosmetics etc. as calculated from the global export data for the year 2014 is estimated at USD 33 billion. The average global export in medicinal plants under HS 1211 for the fourteen year period was USD 1.92 billion for 601,357 tons per annum and for the year 2014 it stood at 702,813 tons valued at USD 3.60 billion. Conclusion: For the studied period, an annual average growth rate (AAGR) of 2.4% in volumes and 9.2% in values of export was observed. Nearly 30% of the global trade is made up by top two countries of the import and export. China and India from Asia; Egypt and Morocco from Africa; Poland, Bulgaria and Albania from Europe; Chile and Peru from South America are important supply sources. The USA, Japan and Europe are the major consumers of the world.

Cite this article as:

Vasisht Karan, Sharma Neetika and Karan Maninder, Current Perspective in the International Trade of Medicinal Plants Material: An Update, Current Pharmaceutical Design 2016; 22 (27) . https://dx.doi.org/10.2174/1381612822666160607070736