In 2024, the coir fiber market experienced a steady recovery. In Sri Lanka, coir fiber prices began at $56 per ton in January, rising to $73 per ton by October before slightly decreasing to $71 per ton in December. This price increase can be attributed to several factors, including potential tightening of supply, and stronger global demand for coir products. In contrast, Indonesia's coir prices remained relatively stable throughout the year, fluctuating between $110 and $140 per ton. This stability suggests a consistent demand and a well-balanced supply chain that allowed prices to remain largely unaffected by broader market fluctuations.

Looking ahead to 2025, Sri Lanka's coir prices are expected to continue their upward trajectory. Prices began at $67 per ton in January and rose to $78 per ton in February. In Indonesia, coir prices are also expected to rise, reaching $145 per ton in January and $150 per ton in February. These were likely driven by global sustainability trends and increased demand for eco-friendly products. Overall, early 2025 signals an upward trend in prices in both countries, indicating potential market adjustments as global demand for coir products grows.

India's coir exports in 2024 experienced significant growth compared to the previous year. Export value surged by 26.2%, from $279 million in 2023 to $352 million in 2024, driven by strong global demand for eco-friendly products. The export volume also increased by 9.2%, from 1.05 million metric tons in 2023 to 1.15 million metric tons in 2024. This growth reflects India’s successful market penetration, especially in North America and Europe, where demand for coir-based products like mats, geotextiles, and pith has risen substantially. Compared to 2023, this year marked a significant acceleration in India’s coir exports, signaling a major growth milestone for the industry.

China remained the largest importer of Indian coir products, with export value rising from $85.86 million and 530,098.89 metric tons in 2023 to $97.48 million and 519,013.04 metric tons in 2024. The United States, while still a significant market, saw slower growth, with export value rising from $48.38 million in 2023 to $59.91 million in 2024. Other European markets, including the United Kingdom, Spain, and Germany, showed strong growth in both value and volume, reinforcing their importance in India’s coir export strategy. Emerging markets such as Brazil and Turkey also contributed to growth, while regions like Algeria and Angola saw declines, indicating challenges in maintaining consistent demand in certain areas.

Indonesia’s coir export sector faced a downturn in 2024, with the total export value decreasing from $4.51 million in 2023 to $3.62 million in 2024, and export volume dropping from 26,208 metric tons to 20,849 metric tons. This decline was largely due to reduced exports to traditional markets like China and Korea. Exports to China fell from $2.45 million to $2.18 million and from 17,308 metric tons to 15,287 metric tons. Exports to Korea also saw a significant drop, both in value and volume. Despite these challenges, there was positive growth in emerging markets, including Iran, Thailand, Taiwan, and Singapore. Exports to Iran increased from zero in 2023 to $46,000 (116 metric tons), while exports to Thailand grew from $1,000 to $5,000. This shift towards emerging markets indicates that Indonesia is diversifying its coir export base.

Figure 3. Export Destination of Coir Products from Indonesia, January-December 2024

In Sri Lanka, coir exports in 2024 faced challenges due to a combination of reduced coconut production, increased domestic demand, environmental factors, and rising production costs. These factors led to decreased availability of raw materials for coir production, resulting in lower export volumes and values for several product categories. Traditional products such as mattress fiber, bristle fiber, and twisted fiber saw reductions in both volume and value, highlighting a difficult year for Sri Lanka’s coir export sector. These challenges underscore the need for innovation and adaptation in response to global sustainability trends and changing demand patterns.