INDIA: Coir exports to cross targeted figures
In an atmosphere in which each and every category and segment of the textile and garment industry is faced with the prospects of negative growth, the coir industry, according to an official from the Coir Board, is well on its way to completing its targets for the fiscal (2008-09).
This has been made possible due to an overwhelming increase in exports to the country’s main competitor and northern neighbour; China. The increased demand from China has come as a succor and handy in this troubled and depressing period.
Exports of coir fibre and products are expected to achieve their targets of Rs 6 billion for the current fiscal. In the period April-February, coir shipments had crossed Rs 5.72 billion in exports and exports of Rs 380-400 million had been achieved already in March.
China imported nearly three times the normal amount of coir products from India in the current fiscal, though other countries which traditionally import from India registered a flat growth, added the official. Market share of the US has also come down from 40 percent to 31 percent.
Added: March 16, 2009 Source: Agencies