Revenue from coir exports take a hit as rupee strengthens

Written by Commodities Bureau | Kochi, Feb 25 | Updated: Feb 26 2008, 07:08am hrs
Export revenue from coir is likely to fall short of last years achievement with the strengthening of the rupee affecting realisation. Coir exports from the country during April-January 2007-08 have increased by 14% in volume terms, while decreasing marginally in value terms. India exported 1,49,232 tonne of coir and coir products valued at Rs 486.86 crore during the first 10 months of the current financial year as against 1,31,109 tonne valued at Rs 490.17 crore in same period of last financial year . In 2006-07, the nation exported 1.69 lakh tonne of coir products valued at Rs 605.17 crore, an increase of 19% compared to Rs 508.44 crore of 2005-06.

Coir rugs, mattings and carpets have seen volume and value drop during the period, while coir fibre and rope have increased their presence in both volume and value. Coir fibre has seen volume go up by more than 150% compared to last year. However, incremental exports of coir rope have fetched lesser value as volume increase of 131% has fetched only 9% increase in value.

The board has appealed to the commerce ministry that the coir sector be included in the higher entitlement of DEPB and for a reduction in pre-shipment and post-shipment credit to 6% from the present range of 9% to 11%.