Kochi (PTI): Increased demand of Indian coir and coir products in China has come handy for the fibre exports, which have come under pressure in the recession-hit US and EU.
As gains in China make up for the losses in the developed economies, exports of Indian coir and coir products would exceed the target of Rs 600 crore.
Exports have already crossed Rs 572 crore for the April-February as compared with Rs 541.19 crore in the same period a year ago, a Coir Board official said.
"The exports will easily cross the targeted Rs 600 crore for this fiscal (FY'09), because exports till February has crossed Rs 572 crore and in March the exports have already touched Rs 38-40 crore," he said.
There was nearly three-fold increase in coir fibre exports following a huge demand from China. "Huge demand from Chinese coir mat industry supported the export growth of coir fibre. However, exports to other countries like Malaysia continued to remain flat," he said.
Meanwhile, in terms of volume, the cumulative exports during the April-February period remained flat at 1,71,859 tonnes as against 1,71,698 tonnes a year ago, according to Coir Board data.
"The US accounts for 40 per cent of our total coir exports, which have now come down to 31 per cent," he said. Exports to the EU is usually 40 per cent, which declined to about 36-37 per cent, he added.
Source : The Hindu