Livelihoods of millions in
Asia-Pacific countries, including India, have been affected as ageing coconut
trees in the region cannot produce enough to keep up with the world's rapidly
growing demand. "Nearly 90 per cent of the world's coconuts and other
products derived from coconut trees originate in this region, but the sector
has problems and requires rehabilitation," said Hiroyuki Konuma, FAO's assistant
director-general and regional representative for Asia and the Pacific. As the
ageing trees produce fewer coconuts and by-products, the livelihoods of
millions are affected, experts at a meeting on coconuts organised by the UN's
Food and Agriculture Organisation (FAO) said. Fifteen Asia-Pacific countries
had gathered at the meeting here over the weekend to agree to a regional
approach to rejuvenate the crop upon which millions rely. The experts stressed
the need for replanting and rehabilitation of coconut trees, as many of the
coconut trees alive today were planted 50-60 years ago following the end of
World War II and well past their most productive years. Stressing the
importance of coconut as an important crop, Thailand's Deputy Minister of Agriculture
and Cooperatives Siriwat Kajornprasart noted that Thailand's coconut
productivity was low and that most trees were old. "Our scientists have
been working hard to increase productivity," he said. The Asia-Pacific
region is the largest producer and exporter of coconut products. The sector is
vital to the economies of many countries, particularly smaller, island states.
India is the world's largest producer of coconuts, harvesting some 16 billion
coconuts annually from nearly 2 million hectares. Indonesia and the Philippines
produce 16 billion and 15 billion coconuts, respectively, for both domestic and
export markets. Increasing demand for coconut products has prompted Thailand to
diversify into a variety of export products such as virgin coconut oil and an
aromatic hybrid coconut for coconut juice, which is also increasing in demand.
While prompt action is needed to rehabilitate the sector in order to meet the
growing demand and ensure small-holders benefit, Asia-Pacific's ageing
population of coconut trees could be rejuvenated through a concerted programme
of replanting, the experts stressed.
Correlating the ups and down in the Indian rupee with the stock market, Vijay Bhambwani, CEO, bsplindia.com, suggests that if the rupee continues with its downward fall, the Indian stock market may fall breach October lows and fall further. “If the rupee falls below the 53.0-53.50 mark vis-a-vis the USD, expect a mini meltdown atleast in the equity markets. In that case, the 2250 level (on Nifty) will be breached easily to form a new low. The possibility of that low being below the 2000 levels on the Nifty spot is fairly high,” he says. Bhambwani supports his outlook by comparing the value of rupee at the time of October lows. “The October 2008 lows were made with the INR at 51.20 - 51.40 band. The rupee has breached the 52 level since then. Clearly the nation’s ‘share price’ (currency) indicates weakness. The curency market is a far more accurate barometer of the nation’s health compared to the equity indices. Whether you like it or not, we are under siege. Had it not been March (NAV ...
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