Indian Rose industry doing wellDecember 29th, 2008 - 9:14 pm ICT by ANI
Bangalore, Dec.29 (ANI): While markets across the world are stated to be affected by the global slowdown, the Indian rose industry is doing good business even after Christmas.
With New Year and Valentines round the corner there is enthusiasm in the rose industry here. The cut flower industry of Bangalore city is reaping profits from the increasing export orders, owing to the weakening rupee against other currencies.
Exporters say that they are receiving orders from across the globe including Europe, Germany, France and Japan. Netherlands accounts for the maximum share of exports.
A few years back, with rupee strengthening against other currencies, Indian roses were stated to have lost out of their competitiveness in the international market to some extent. But the demand has picked up again.
Ramakrishna Karuturi, a rose producer and exporter said that they did quite well during Christmas festival and are expecting an increase in the sales by over 17-18 per cent during New Year and St.Valentine Day.
“Our markets have not been affected by the downturn, and we are doing consistently well. We have done well for the Christmas exports. We are quite booked for the Valentine market also. We have orders over 20 million stems for valentines and pretty much the same prices as last year. Fortunately, the rupee has weakened over the foreign currencies. Because of rupee, we expect to have 17-18 per cent sales. Even maintaining last years sales figures so we expect this year to be good despite the recession blues that are facing a lot of other sectors,” said Ramakrishna Karuturi.
Karuturi added that the cut flower market of Bangalore is well poised for the domestic as well as the international markets.
In India, roses grow at many places across the country including in green house conditions. Recently, cultivation of roses has stemmed out to West Bengal, some parts of Himalayan foothills and Ooty hill station of Tamil Nadu also.
The characteristic of the flower industry in general being inversely variable or counter-cyclical to the economy and a weakening rupee adds aroma to the rose business.
Also, the Indian flower industry caters mostly to the weddings, which are in full swing around this time.
India’’s annual flower production accounts for around 10 billion rupees and the country’’s floriculture industry has a miniscule share in the international market.Kenya and Israel pose competition to the Indian rose and rest of the flower industry. (ANI)
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Tags: christmas festival, cut flower, downturn, europe germany france, export orders, flower industry, flower market, foreign currencies, global slowdown, good business, green house, himalayan foothills, international markets, ooty, recession blues, rupee, st valentine, valentine day, vasuki, west bengal