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Coir exports to beat target
25 Feb '10
2 min read
Huge demand for coir fiber and curled coir from China are signs that coir exports from India would go beyond the target fixed for ongoing fiscal year. When the market for traditional handloom products like coir mats, rugs and carpets is witnessing plunge; machine-made products such as PVC tufted mats and coir raw materials are witnessing mounting sales, as per the Coir Board.
Exports of coir products have shown growth in first 10 months of current fiscal, against the exports of corresponding period of previous fiscal and it is likely to exceed the target of Rs.7 billion, said the expert. These exports increased by 35.87 percent and 19 percent in terms of volume and value, during this period.
During April-January of ongoing fiscal, exports stood at Rs.6.23 billion against Rs.5.23 billion in the first ten months of 2008-09. While, during entire 2008-09 these exports were 189,858 tons in terms of volume and Rs.6.23 billion in terms of value.
In the year 2007-08, India shipped 187,566 tons of coir products valued at Rs.5.92 billion, while in 2006-07 the export volume was 168,754 tons valued at Rs.6.05 billion.
India's domestic coir product manufacturing industry is witnessing raw material scarcity as huge volumes of curled coir and fibre (raw coir) are being purchased by countries like China and Korea.
However, this export of raw materials has lent a hand to the export performance, since demand from traditional markets such as US and Europe is showing downfall.
Exports to China from India has been escalating since past one year and in past few months, Korea has also started importing much of these products from India. Chinese people use imported fibre (raw coir) to produce coir mattress meant for export.
Around 40 percent of mattress market of Australia has been cornered by China, which is aiming to expand its market share. The government of China is supporting exporters by offering them subsidized freight.
Exports of coir products have shown growth in first 10 months of current fiscal, against the exports of corresponding period of previous fiscal and it is likely to exceed the target of Rs.7 billion, said the expert. These exports increased by 35.87 percent and 19 percent in terms of volume and value, during this period.
During April-January of ongoing fiscal, exports stood at Rs.6.23 billion against Rs.5.23 billion in the first ten months of 2008-09. While, during entire 2008-09 these exports were 189,858 tons in terms of volume and Rs.6.23 billion in terms of value.
In the year 2007-08, India shipped 187,566 tons of coir products valued at Rs.5.92 billion, while in 2006-07 the export volume was 168,754 tons valued at Rs.6.05 billion.
India's domestic coir product manufacturing industry is witnessing raw material scarcity as huge volumes of curled coir and fibre (raw coir) are being purchased by countries like China and Korea.
However, this export of raw materials has lent a hand to the export performance, since demand from traditional markets such as US and Europe is showing downfall.
Exports to China from India has been escalating since past one year and in past few months, Korea has also started importing much of these products from India. Chinese people use imported fibre (raw coir) to produce coir mattress meant for export.
Around 40 percent of mattress market of Australia has been cornered by China, which is aiming to expand its market share. The government of China is supporting exporters by offering them subsidized freight.
Fibre2fashion News Desk - India
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