Coir exports register volume increase
The export of coir products from India for the financial year 2007-08 witnessed 11.15 per cent increase with 187566 tones exported in volume terms.
By PTI |
KOCHI: The export of coir products from India for the financial year 2007-08 witnessed 11.15 per cent increase with 187566 tones exported in volume terms.
However, in rupee terms the export for the period was less by two percent compared to the previous year figure.
"The value wise export is Rs 592.88 crore and it appears that an average percent appreciation in rupee against US dollar has impacted coir export," a coir board release said.
"Even though there are so many hurdles that affected the export of coir and coir products the figure shows a commendable volume growth during the financial year 2007-08," it said.
During the same period of the previous year it was of the order of 168755 tones at Rs 605 crores.
A C Jose, Chairman, Coir Board, said the value realisation would have gone up to Rs 636 crore, if rupee appreciation had not dented coir exports. 'Virtually, the dollar depreciation against rupee's appreciation has brought the coir industry to a stand still', he said.
'The Rupee appreciation, enhancement of PLR rate in respect of packing Credit, term loan, pre-shipment/ post-shipment credit by banks, unrebated service tax and fringe benefit tax has put the coir industry in doldrums. All these will erode the profit margin making coir exports unattractive', it said.
Urging for immediate remedial measures by the RBI and Finance Ministry so as not to dent export competitiveness, Jose pointed out that coir industry, which has low unit value realisation and compressed profit margin, cannot absorb the appreciation of rupee. 'The rupee appreciation has put severe strain on the coir industry', Jose said.
However, in rupee terms the export for the period was less by two percent compared to the previous year figure.
"The value wise export is Rs 592.88 crore and it appears that an average percent appreciation in rupee against US dollar has impacted coir export," a coir board release said.
"Even though there are so many hurdles that affected the export of coir and coir products the figure shows a commendable volume growth during the financial year 2007-08," it said.
During the same period of the previous year it was of the order of 168755 tones at Rs 605 crores.
A C Jose, Chairman, Coir Board, said the value realisation would have gone up to Rs 636 crore, if rupee appreciation had not dented coir exports. 'Virtually, the dollar depreciation against rupee's appreciation has brought the coir industry to a stand still', he said.
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'The Rupee appreciation, enhancement of PLR rate in respect of packing Credit, term loan, pre-shipment/ post-shipment credit by banks, unrebated service tax and fringe benefit tax has put the coir industry in doldrums. All these will erode the profit margin making coir exports unattractive', it said.
Urging for immediate remedial measures by the RBI and Finance Ministry so as not to dent export competitiveness, Jose pointed out that coir industry, which has low unit value realisation and compressed profit margin, cannot absorb the appreciation of rupee. 'The rupee appreciation has put severe strain on the coir industry', Jose said.
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