Exports of coir within the last few years, was affected by rupee appreciation, declining demand for traditional products and credit defaults by buyers in the US and Europe market. But in the last fiscal, it achieved a remarkable volume growth rate of almost 25 percent.
As per the first round of figures, the performance for 2009-10, surpassed the target of Rs 7 billion by over ten percent. Also, the quantity of export of the last fiscal was higher by 42 percent over its previous fiscal. More so, export realisation for the fiscal under consideration was Rs 7.75 billion as compared to Rs 6.23 billion during 2008-09.
However, the above are not final figures, as two ports have yet not revealed their final figures. More so, while coir has achieved its target, overseas sales of other products have failed to achieve their set targets.
While machine made, PVC tufted mats and coir raw materials, have found an increase in demand, the traditional handloom products of carpets, coir mats and rugs are witnessing a fall in the market share.
With consumers in US and Europe curbing consumption, overseas sales of carpets and coir rugs has reduced by 28 percent in quantity and 32 percent in value, over the previous fiscal. Similarly, coir matting and rubberised coir have also failed to perform well when compared to 2008-09.
In addition, overseas sales of coir raw materials like pith, fibre, yarn and curled coir is witnessing an increasing demand. China and Korea consume huge amounts of curled coir and fibre from India. Also, Chinese importers utilise this fibre to create coir mattress for overseas sales.
With a hold of about 40 percent in the Australian mattress market, China is keen on increasing its market share. For this, Chinese coir importers have also received their government's support in the form of subsidised shipment.
Currently, the local market is worth Rs 15 billion of which rubberised coir mattresses totals to Rs 11 billion. Overseas sales of coir mattresses have also increased by 299 percent in value and 273 percent in volume during 2009-10, compared to the same period last fiscal. Similar is the case with curled coir exports, which has increased by 130 percent in volume and 186 percent in value for the same period.
Fibre2Fashion News Desk - India