Medicinal and aromatic plants sector in Karnataka: An economic perspective and SWOT analysis

Abstract

Medicinal and aromatic crops occupy an important position in the socio cultural, spiritual and health aspects of Indian rural population. These have become an integral part of the culture and rituals. Karnataka has one of the richest traditional medicine cultures in India. The demand exceeds the supply of medicinal plants in Karnataka. At present, around 90 per cent of the supply of the raw material is directly from the forest and mostly from outside the State. Cultivation of a few species began only recently and that meets only about 10 percent of the demand. Cultivator to pharmacy and cultivator to pharmacy via trader are the frequently resorted market routes. Karnataka is one of the leading States that has a significant presence of Ayurvedic and Unani manufacturing companies. Presently there are 71 Ayurveda; Unani, homoeopathy and nature cure & yoga colleges in Karnataka. Some of the strengths of medicinal and aromatic crop sector in Karnataka are the existence of deep cultural and historical roots of traditional Indian medicine and the knowledge of the properties and therapeutic use of plants; A positive policy of state and union Governments for the development of medicinal and aromatic plants cultivation. The weaknesses associated with this sector are over-exploitation of natural resources from their wild habitats, lack of information in cultivation and marketing, and inadequate information on international demand and supply. The international market for herbal products is growing at an annual growth rate of seven per cent per annum; A growing market demand for high quality products certified for sustainable, environment-friendly collection and production, and consumer preference and concerns for organically grown products is increasing are some of the opportunities whereas depletion of natural resources at an alarming rate, high fluctuations in the market prices and vagaries of nature like droughts, floods and forest fires are the threats to the MAP sector in the state.