Philippines : Philippine abaca exports increase in Jan'12

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Philippine abaca exports increase in Jan'12

03
Apr '12

Exports of abaca, including abaca pulp, cordage and fibre, earned US$ 8.69 million for Philippines in January 2012, registering a rise of 6 percent compared to abaca exports of US$ 8.2 million achieved during the corresponding month of 2011, according to Fibre Industry Development Authority (FIDA).

The export growth is attributed to rising demand for abaca pulp in traditional markets like Germany, Belgium, China, South Korea, Japan, France, Taiwan, UK and the US.

The exports of abaca pulp, which constituted 82.1 percent of total abaca exports from Philippines, increased by 21.5 percent year-on-year to US$ 7.13 million during the month.

European countries were the top importers of Philippine abaca pulp, accounting for 69.9 percent of share, followed by Asian countries, which accounted for a share of 23.5 percent.

In January 2012, Philippines exported US$ 677,391 worth of abaca cordage, showing a 39.1 percent decline from exports worth US$ 1.11 million made in January 2011. Abaca cordage constituted around 7.8 percent of total abaca exports from Philippines.

Most of the Philippine abaca cordage, that is 76.3 percent, was exported to the US. Europe and Asian countries imported 9.8 percent and 13.9 percent of abaca cordage respectively.

Abaca fibre exports also showed a decline of 1.8 percent year-on-year to US$ 69,507, during the first month of 2012.

During the month, domestic abaca production was 36,110 tons, which was 39 percent more than output of 25,973 tons achieved during the same month in 2011.

The bulk of abaca production in Philippines came from Davao region, Eastern Visayas and Bicol region.

Fibre2fashion News Desk - India

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