Kochi, India, January 10, 2007--The Coir Board is planning to ramp up coir products' exports to new markets like Latin American and African countries to reduce the dependence on the US and European markets even as the exports registered around 11% rise for the nine month period ended December 31, 2006.
Right now the US is the single largest markets with a share of 40% of Indian coir exports while the European countries together account for another 41%. But with competition from Sri Lanka, Vietnam and the Philippines, India's position in the global coir market is becoming shaky.
"We should take full advantage of the benefits offered for export to Latin American countries and hence the effort to push products into new markets," says PC Antonel Vaz, deputy director of the board.
The overall coir exports for the nine-month period touched 109,688 tons valued at Rs 421.2 crore, showing an increase of 9.5% in quantity and 10.8% in value. The value added product of coir mats contributed the lion's share of exports with 51,499 tons valued at Rs 325.82 crore.
The decline was conspicuous in coir rugs and carpets, important items in the export list, with exports dropping to 273 tons valued at Rs 1.9 crore from 1,144 tons valued at Rs 6.6 crore in the same period of the previous year, emphasising the need to penetrate new markets.
The board sources said the reason for the drop is being examined as other products like coir pith, geotextiles, coir fibre have shown rise. This has happened when the board chairman AC Jose and a senior team are about to proceed to participate in Domotex international carpet fair in Hanover at the end of this week.
Competition from other countries, however, has turned in favor of India in the case of coir fibres. The buying from China has led its exports to rise to 3,262 tons valued at Rs 3.8 crore from 1,029 tons valued at Rs 1.3 crore, recording 217% rise in quantity and 198% increase in value. Earlier China used to buy from Sri Lanka.
