Floriculture industry to cross Rs 8000 crore by 2015
Posted by Labels: Flower, Horticulture and Floriculture, India
Growing at a compounded annual growth rate of about 30%, India's floriculture industry is likely to cross Rs 8,000 crore mark by 2015, apex industry body ASSOCHAM said.
Currently, the floriculture industry in India is poised at about Rs 3,700 crore with a share of a meagre 0.61% in the global floriculture industry which is likely to reach 0.89% by 2015, according to a study titled, 'Indian Floriculture Industry: The Way Ahead' released by The Associated Chamber of Commerce and Industry of India (ASSOCHAM).
Besides, the global floriculture industry is likely to cross Rs 9 lakh crore mark by 2015 from the current level of about Rs 6 lakh crore and is growing at a compound annual growth rate of 15%, said a statement issued by the chamber.
With a share of about 65%, market share of rose alone in the flower industry in India accounts for over Rs 2,400 crore of the overall floriculture industry and 75% of the global floriculture industry, said the study.
Rising demand from tier II and III cities apart from urban centres is likely to spur demand for roses this Valentine's Day as price of export quality cut rose is likely to quadruple from its current average ruling price of about Rs 15 to Rs 20 per stem.
The chamber interacted with about 250 rose merchants including the cultivators, exporters, wholesale flower dealers and florists in Bangalore, Chennai, Delhi, Mumbai and Pune to gauge the scenario vis-a-vis business of rose flower during the Valentine's week considering India is also world's biggest rose grower.
Demand for roses has spiralled upwards by over 25% in domestic and by about 30% in international markets as the V-Day draws closer, said over 55% of all the respondents.
Fall in the value of rupee against major currencies is the prime reason behind this upsurge in demand for roses in international markets of Australia, Germany, Greece, Italy, New Zealand, the Netherlands, the United States, the United Kingdom and other countries of Europe and the Middle East.
Besides, majority of flower growers also said they are hoping for about 30% rise in terms of revenue during February alone with a turnover of about Rs 10 crore.
About 40 crore cut roses are grown across India every year and Karnataka alone accounts for about 75% followed by Maharashtra, Tamil Nadu, Bihar, West Bengal, Uttar Pradesh, Haryana, Punjab, Jammu and Kashmir, Andhra Pradesh and Madhya Pradesh, said ASSOCHAM.
The Times of India
