Home » MSME » Coir Industry Set to Cross A New High in Fortunes Even Amidst Covid-19

Coir Industry Set to Cross A New High in Fortunes Even Amidst Covid-19

Despite COVID – 19, the export of Coir and Coir products from India during the first half of the year 2020-21 registered Rs. 1662.43 crore with an increase of around Rs. 300.00 crore from the first half of previous year. This is also the highest half year figure ever recorded in the history of the Coir Board. The total exports of coir and coir products for the first half of the year were worth Rs. 1361.45 crore in 2019-20. During the first half of the year 2020-21, 5,43,393 MT of coir and coir products were exported from the country as against 4,93,399 MT exported during the first half of preceding year. The increase, in value, works out to be 22.1% and, in terms of quantity, 10.1%when compared to the corresponding figures of the previous year. The trend shows that coir exports will cross all the records by the end of this year.

Coir pith with export earnings of Rs. 835.26 crore constituted 50% of the total export of coir products from the country. Coir fibre with an export of Rs. 303.69 crore constituted to 18% of the total exports. The value-added items put together constituted 31% of the total exports. ‘Tufted Mats’ topped among the value added products (20% in value).

During the first half of the year 2020-21, 97 countries imported coir and coir products from India. USA topped the importing countries with 30% in value and 17% in quantity. China is the second largest importer of coir products from India with a share of 23% in value and 37% in quantity. Netherlands, UK, South Korea, Spain, Australia, Italy, Germany and Canada imported substantial quanti­ties of coir and coir products during the period.

The work from home nature of the European/ US countries caused increase in exports of coir floor coverings and coir pith. During the post lock-down, most of the units are running more than the capacity to cater to the demand.

The total production of coir and coir products was 4,40,000 MT during the first half of the current financial year, which helped to open new employment opportunities, which gives a new horizon of hope to coir industry.

Consumption of coir and coir products in the domestic market also shows an increasing trend. The Coir Board showrooms across the country could achieve a total sale of Rs 691.69 lakhs

 

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Sector and Industry wise study of ground level issues for policy formulation is the need of the hour: Shri Nitin Gadkari

Shri Nitin Gadkari, Union Minister for Micro, Small & Medium Enterprises and Road Transport & ...

Gadkari Calls upon Apparel Export Promotion Council for taking measures to target increasing exports by two times

Shri Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises (MSMEs) has called upon ...

The contribution of MSMEs in Employment generation and GDP growth of India

During last five years, a total of 1,98,736 MSME units were set up and started ...

MSME Minister Approves a New Scheme to Make India Aatmanirbhar in Agarbatti Production

Union Minister for MSME, Shri Nitin Gadkari has approved a unique employment generation program proposed ...

Conversion of knowledge into wealth is important for development of manufacturing sector in India – Shri Nitin Gadkari

Union Minister for MSME and Road Transport and Highways, Shri Nitin Gadkari  held meeting yesterday ...

Ministry of MSME shows the way to make MSMEs break their Barriers and become Champions

In a historic move, bold initiative and landmark decision, Ministry of Micro, Small and Medium ...

KVIC launches Sandalwood and Bamboo plantation, a new initiative to spur monetization of its assets

The Khadi and Village Industries Commission (KVIC), in a first of its kind initiative has ...

Enhanced Import Duty on Bamboo Sticks to give a big boost to Agarbatti and Bamboo Industries in India: KVIC

he Central Government’s decision to increase import duty on bamboo sticks from 10% to 25% ...

Cabinet approves Upward revision of MSME definition and modalities/ road map for implementing remaining two Packages for MSMEs (a)Rs 20000 crore package for Distressed MSMEs and (b) Rs 50,000 crore equity infusion through Fund of Funds

In line with Government of India’s top focus on energising MSMEs in the country, a ...

Government is exploring new financial lending institutions to support small-scale units – Shri Nitin Gadkari

Union Minister for MSME and Road Transport and Highways, Shri Nitin Gadkari today said that ...

WP2Social Auto Publish Powered By : XYZScripts.com