Coir exports record nominal increase in value and volume

Written by Commodities Bureau | Kochi | Updated: Jan 14 2009, 03:43am hrs
Dramatic increase in the export of curled coir in December 2008 has helped coir exports manage a nominal increase in volume and value for the first three quarters of the current FY. Despite exports declining in volume and value for the last seven months, cumulative exports for the first nine months of the current FY have increased in volume nominally by 1.25% while recording a value increase of 6%.

For December 2008 exports have recorded a decline in volume by 14.5%, when compared the performance of December 2007. Value has shown an increase of 5% over the same period.

Export of curled coir used to make mattress have shown a huge increase in December. Volume has increased by 317% and value by 480% when compared to the performance of December 2007, KC Eapen, secretary, Coir Shippers Council told FE. Except for curled coir, exports for all other products are on a decline due to the global slowdown, he added.

The rate of fall in exports has gathered momentum in the last three months and for November, it touched 19% in volume terms and 23.16% in value terms. In October 2008, exports declined by 9.72% in volume and 15.14 % in value. In September, the decline was 16.17 % in volume and 9.76% in value.

The undoing of the coir exports industry is its dependence on the US and European buyers. According to estimates of the board, US is the single largest market, accounting for more than 37% of the total export. European countries together accounted for more than 41%, with the remaining 22% shared by a number of countries.