Coirfed products attract international export deals at Coir Kerala 2016
Alappuzha, Feb 5: Coir Kerala 2016 turned out to be an excellent platform for interactions between international market and traditional artisans of Kerala with the Coirfed stall at the annual event attracting enquiries from business representatives from over 20 countries with big export potential.
Out of the 21 enquiries made by international parties, at least nine are on the verge of materializing into profitable export deals.
Business executives from the UAE, Canada, the USA, Germany, Bangladesh, Dubai, Poland and Kenya expressed keen interest in Coirfed products displayed at the international pavilion of Coir Kerala.
“These countries are eager to pursue export deals of Coirfed products. We are expecting export deals worth Rs 2.5 crores,” said Minister of Revenue and Coir Shri Adoor Prakash. “Even an initial tie up with international parties will be a great boost for Coirfed in particular and the coir sector in general,” he pointed out.
Foreign buyers evinced keen interest in residential products such as geotextiles, PVC mats and fibre mats. “They showed great interest in our geotextile and mat products and now it’s our turn to ensure that the enquiries are materialized into export deals in a time-bound manner,” said Dr. K Madanan, Managing Director, Coirfed.
The steady climb in the financial turnover of Coirfed is an indicator of how this coir body is growing in stature. Its annual turnover for the year 2014-2015 increased to Rs 63 crore from Rs 36.4 crore in 2011-2012.
“Coir Fed had been incurring a net loss till three years back, but from the year 2012 onwards we have been able to revitalize the co operative sectors. We have been able to generate net profits since then,” said Dr. K .Madanan. “We are giving new electronic spinning machines with 100 per cent subsidy to the co-operative units which have helped increase production of coir products,” he added.
Coifed has won the award for the Best Apex Federation in Coir Sector from the Ministry of Micro small and Medium Enterprises (MSME) for three years on the trot.