Exports of coir up by 30 percent in FY11-12

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SME Times News Bureau | 25 May, 2012
Coir exports have registered an increase of 30 percent in value terms in the fiscal 2011-12 against the previous fiscal, reports media.

Coir exports surged both in terms of value as well as volumes during 2011-12. With a year-on-year rise of 28 percent in volume and 30 percent in value, exports hiked to 410,854 tons valuing Rs. 10.53 billion, thus surpassing the target of Rs. 8.5 billon set for the period.

Exports of coir items including coir fibre, handloom mating, rubberized and curled coir, coir yarn, geo textile and coir pith posted a positive export growth during the last fiscal year ending March 31, 2012.

The exports have surpassed the target of Rs 850 crore fixed for the fiscal 2011-12. This has been achieved despite economic turmoil in Europe and the US.

With a 44 percent year-on-year rise, coir product exports jumped to 119,684 tons, which pushed up its export value by 67 percent to Rs. 2.03 billion.

Sustaining its past few years’ positive trend, coir pith exports showed a 31 percent year-on-year rise in export volumes at 206,424 tons and a 49 percent y-o-y growth in value to Rs. 2.215 billion.

In spite of a fall in export volumes, value of coir handloom mat and tufted mat exports grew by 9 percent and 16 percent to Rs. 2.35 billion and Rs. 2.77 billion, respectively.

The overall positive growth of the sector is in spite of the economic crisis situation in the EU and the US.

However, coir rugs and carpets posted negative growth both in terms of volume as well as value.