• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Kochi, May 7 The export of coir products for the financial year 2007-08 witnessed a whooping 11.15 per cent increase by exporting 1,87,566 tonnes in volume. However, in rupee terms the export for the period was less by 2 per cent compared to previous year’s figure.

The value-wise export is Rs 592.88 crore. It appears that an average 12.5 per cent appreciation in rupee against dollar has impacted coir exports. Even though there are so many hurdles that affected the export of coir and coir products, the figures show a commendable volume growth during the financial year 2007-08.

During the same period of the previous year, it was of the order of 1,68,755 tonnes at Rs 605 crore.

Mr A.C. Jose, Chairman, Coir Board, said that had not rupee appreciation dented coir exports, the value realisation would have gone up to Rs 636 crore. He requested for immediate remedial measures by RBI in tandem with the Finance Ministry so as not to dent export competitiveness.

He pointed out that the coir industry, which has low unit value realisation and compressed profit margin, cannot absorb the appreciation of the rupee. The rupee appreciation has put severe strain on the coir industry, he added.

Coir products have a low value unit realisation. This results in thin margins. Virtually, the dollar depreciation against the rupee’s appreciation has brought the coir industry to a standstill.

The rupee appreciation, enhancement of PLR rate in respect of packing credit, term loan, pre-shipment/post-shipment credit by banks, un-rebated service tax and fringe benefit tax etc, has put the coir industry in doldrums, he said.

More Stories on : Exports & Imports | Coir | Kerala

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Google launches translation service for Hindi

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line