Coir Kerala triggers successive yearly growth in sector: Minister

Alappuzha, Feb 4: Kerala government-owned CoirFed, Foam Mattings and Coir Corporation has registered steady annual growth in the past six years since the start of Coir Kerala, Minister for Revenue and Coir Shri Adoor Prakash said today.

“Last year, the state corporation did business of Rs 105 crore, with export worth Rs 4.95 crore,” he pointed out. “This year, we are expecting to do business worth Rs 125 crore, with exports touching Rs 10 crore by March 2016.”

Coir Corporation, set up in 1969 for building up the state’s coir industry, started to make a profit in 2011-12, bringing the accumulated loss down today to Rs 1.1 crore from Rs 12.35 crore, the Minister told a press conference at the Coir Kerala 2016 venue in EMS Stadium.

“Foam Mattings has started making a profit in the last two years, recording a Rs 25 lakh profit last year,” he said. “This year the projected profit is Rs 30 lakh.”  

The Minister pointed out that Foam Mattings, which manufactures and markets coir, jute and sisal products under the Fomil brand, has had a good turnover, not just in exports, but also in the domestic market.

“Coirfed has enabled increased husk procurement in the last five years, going up from 1.4 lakh quintals in 2006-11 to 3.15 lakh quintals in 2011-15,” he said. “While the turnover in 2011-12 was Rs 36.19 crore, it has gone up to Rs 63.25 crore this financial year, bringing down its accumulated loss.”

Shri Prakash said that the government expects Rs 250 crore export business from the current edition of Coir Kerala, which received 159 delegates from 54 countries.

Also present at the function were Coir Secretary Shri Rani George, Director of Coir Development Shri K N Satheesh, Kerala State Coir Machine Manufacturing Company Chairman Shri D Sugathan, Kerala State Coir Corporation Chairman Shri Rajendra Prasad, Fomil Chairman Shri P Narayanan Kutti,  Coir Kerala 2016 Working Chairman Shri A A Shukoor Ex MLA and Coir Workers Welfare Board Chairman Shri A K Rajan,National Coir Research and Management Institute Director Shri K R Anil.


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