"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," Prakash told reporters on the sidelines of 'Coir Kerala International Trade Fair' here.
Last fiscal the value of coir exports stood at Rs 807 crore, 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, 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.
