Coir exports are likely to grow 24 per cent to Rs 1,000 crore in the current fiscal on growing demand from new markets like Russia and Latin America, the Kerala Minister for Coir, Mr Adoor Prakash, said today.

“We expect coir exports to touch Rs 1,000 crore in this fiscal owing to increasing demand from new markets like Russia, Africa and Latin America,” Mr Prakash told reporters here today on the sidelines of ‘Coir Kerala International Trade Fair’.

Value of coir exports stood at Rs 807 crore last fiscal, according to the Department of Coir Development of Kerala. The state accounts for 80 per cent of India’s coir exports. The century old coir industry in Kerala employs about 3.5 lakh people.

Exports have grown at a healthy rate of over 20 per cent in the last nine months of this fiscal, Mr Prakash said. He, however, added that there is a demand slowdown in major markets like the US and Europe due to fragile economic recovery there.

The US and Europe account for about 72 per cent of the country’s total outward shipments of the natural fibre.

On domestic sales, Mr Prakash said: “Our target is to expand the domestic market to Rs 4,000 crore in the next three-four years. It is quite achievable, if we put greater focus on creating awareness and marketing which is exactly what we are planning to do.’’

In the current fiscal, revenues from the domestic market are likely to touch Rs 2,000 crore from Rs 1,600 crore last fiscal. Production is likely to touch 2.35 lakh tonnes this year.

The Department of Coir Development of Kerala is organising a six-day seminar from February 4-9. Over 100 delegates from about 35 countries, including those from West Asia, Europe, Africa and North America, would be participating.

During the ‘Coir Kerala International Trade Fair’, there would also be a global buyers and sellers meet.

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