Indian Share Market Tips|India's Coconut products exports advance to Rs 6,448 cr during 2014-18
India's export of coconut products has increased to Rs 6,448 crore in value terms during 2014-18, the agriculture ministry said.
A quantum leap in the export of coconut products is expected in the near future as the price of coconut products is increasingly becoming highly competitive, it said.
The government is promoting coconut product exports by giving 5% incentive under the new Foreign Trade Policy for 2015-20.
"Income earned from export of coconut products was Rs 3,975 crore during 2004-14, which increased to Rs 6,448 crore during 2014-18," the ministry said in a statement.
With the government's efforts, India has started exporting coconut oil to Malaysia, Indonesia, and Sri Lanka. Till last year, India used to import coconut oil from these countries, it said.
Besides, for the first time, India is exporting large quantities of dry coconut to US and European countries, it added.
According to the ministry's data, the annual coconut production in India is 2437.80 crore and the productivity is 11,616 coconuts per hectare.
The crop is cultivated in 20.98 lakh hectare. The crop contributes Rs 34,100 crore to the GDP.
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