MANILA – Philippine abaca exports fell by a tenth in the first six months of the year, the Fiber Industry Development Authority said.
In a statement, FIDA said the country sold $63.95 million in the January to June period, down 10.5 percent from the $71.48 million a year ago.
Shipments of abaca pulp, which accounted for 76 percent of total earnings, fell to $49.05 million from $52.11 million last year despite a 2 percent increase in volume shipped during period.
Sales of raw fiber, which made up 10 percent of total exports, suffered the sharpest fall, dropping 63.3 percent to $2.47 million from last year’s $6.75. The volume of shipments likewise fell 58.5 percent year-on-year. Asia was the Philippines’ biggest market, with shipments sliding 73 percent year-on-year.
Cordage exports likewise slid 6.6 percent to $ 7.76 million from $8.31million last year, as the volume of shipments slipped 13.8 percent year-on-year.
Despite the drop in exports, FIDA is optimistic that shipments would recover in the second half of the year amid demand for filter paper used in disposable coffee and tea cups.
The industry expects exports to increase by 10 percent this year, after shipments jumped 34.3 percent to $140.3 million year-on-year in 2011.
source: interaksyon.com
