Low US demand hits coir exports

KOCHI: India���s coir exports declined by about 13% in terms of value during March to Rs 45.03 crore mainly on account of lower interests from the major importing country ��� the US ��� which is hit by recession. Coir exports during March 2008 stood at Rs 51.68 crore, according to Coir Board data.

In terms of volume, it dipped by nearly 2% to 15 618 tonnes compared to 15 868 tonnes in the same month last year. The exports got affected by many orders put on hold from the US and many European countries which are hit by a major economic turmoil, a Coir Board official said.

During March, coir fibre export jumped by around five fold to Rs 1.85 crore from just Rs 39 lakh in the year-ago period due to surge in demand from Chinese mat industries. Coir pith saw a rise of 11% at Rs 63.2 crore from Rs 56.95 crore last year.

The rise in demand for coir pith used as a manure to increase the fertility of the soil was from countries like the Netherlands and a few other European nations, he said. During entire FY09 fiscal, coir export has recorded a growth of 5.22% to Rs 623 crore compared to Rs 592 crore in the previous year.