China has become India’s largest export destination for coir fiber and products
According to India’s “Financial Express”, China has become India’s largest export destination for coir fiber and products, and will soon replace the United States as India’s largest trading partner for coir fiber and products in terms of total trade volume.
In the 2010-11 fiscal year, China accounted for 26% and the United States accounted for 15.82% of India’s total foreign trade volume of coir fiber and products. In terms of total foreign trade, China accounts for 15% and the United States accounts for 25.46%.
As other countries in South Asia increase their exports of coir fiber, India’s traditional export markets of coir fiber, the United States and Europe, are affected. The Fiber Shipping Council stated that China’s imports of coir fiber and yarn from India increased sharply last year, and most of India’s fiber exports were sold to China. In the near future, China’s fiber products will threaten India’s local products.
In the 2010-11 fiscal year, India’s exports of coir fiber and products hit a record high of 321,000 tons, an increase of 9% over the previous year, and the total export volume reached 8.07 billion rupees.
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