Global coir prices swing widely in first quarter

According to Fibre2Fashion’s market insight tool TexPro, coir was traded at $476 per ton (FOB) in India in January 2024, which was almost 9.25 per cent higher than the prices in the last week of 2023. The product has witnessed rise in price since the very beginning of this year. It jumped to $475 per ton in the first week of January 2024 from $432 per ton in last week of December 2023. But the prices could not sustain and dipped to $433 per ton later in January. It again noted upward trend and rose gradually to $476 per ton. The prices later dipped to reach at $472 per ton in last week of March this year.

In Indonesia, coir prices increased from $187 per ton to $205 per ton during the last three months. Its prices jumped to $204 per ton in the first week of January 2024, but dipped to $198 per ton in the last week of January. The prices again rose gradually to reach $205 per ton, only to ease in the last week of March to $196 per ton. 

In the Philippines, coir prices increased from $129 per ton to $144 per ton in the last week of March 2024. The product has noticed volatility in the period. It jumped to $142 per ton in first week of January but dipped again to stay range bound till mid-February. The prices began to rise later and touched $146 per ton in mid-March. Later, it declined to reach $144 per ton, as per TexPro.

Sri Lanka saw coir prices at $239 per ton in first week of January 2024 which was $2 per ton higher than the previous month. Later, it slipped to a low level of $201 per ton in the second week of January. It remained volatile in the subsequent weeks of the last quarter. Coir prices increased to $234 per ton in the last week of March from a level of $225 per ton in mid-March.

Fibre2Fashion News Desk (KUL)