Tapping new markets has helped coir exporters to increase the volume and revenue in spite of strengthening of the Indian currency. Exports have increased by 10% during January-May period compared to the same period last year. The nation exported 66,185 tonne of coir products during the first five months of 2007 as against 60,140 tonne during the same period in 2006. Strengthening of rupee has meant a drop in unit realisation from Rs 35.25 per kg to Rs 33.79 per kg, Coir Shippers Council secretary KC Eapen told FE. The revenue has increased to Rs 223.68 crore from Rs 212.01 crore, he said.
The outlook for exports also looks promising as coir is increasingly being identified as a natural floor covering in the developed market, Eapen said. ?Compared to its competitors coir is long lasting and the skill set of our labourers gives it a competitive advantage,? he said. Indian exporters have entered the West Asian and South American market and future growth could come from those areas, he added. The outbreak of viral fever has affected production during June and July, but he expressed confidence that the industry will make up the short in the coming days.? The appreciation of the currency by 11% has affected the profit margins but the increased government concessions have helped the industry,? Eapen opined. The export of coir and coir products has reached an all-time high record of 1,68,755 tonne and Rs 605.17 crore during 2006-07 compared to 1,36,027 tonne and Rs 508.45 crore during 2005-06. The number of countries importing Indian coir products has also increased during the year to 97 from 90.
