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Philippines' abaca production and exports decline
14
May '13
Reporting a drop of 14.7 percent, Philippines’ abaca production for first two months of the current year dipped to 61,935 bales from production of 72,615 bales during corresponding period of last year, Fiber Industry Development Authority (FIDA) statistics shows.
 
Abaca exports from Philippines also dipped 32.6 percent from US$ 9.3 million in January 2012 to US$ 6.26 million in January this year.
 
FIDA attributed the decline in abaca exports to financial slump in the EU region. However, it expects Philippines’ abaca exports to bounce back in the coming months.
 
Posting a rise of 8.3 percent over last January’s output of 23,463 bales, Bicol region alone produced around 25,420 bales of Abaca fibre in January this year, which is equal to 41 percent of country’s total output, the FIDA data showed.
 
According to the FIDA data, overall abaca fibre exports dipped 46.2 percent from 2,470 bales in January 2012 to 1,330 bales in January this year.
 
Abaca pulp exports, constituting 66.7 percent of total abaca exports, also declined 46 percent from last January’s US$ 7.74 million to US$ 4.18 million this January. 
 
Volume-wise, too, abaca pulp exports to the EU and Asia dipped 51.3 percent from 2,300 tons to 1,120 tons.
 
Meanwhile, abaca cordage exports plunged 6.8 percent from January 2012’s US$ 677,391 to US$ 631,032 this year. Volume-wise, it plunged 3.7 percent from 282 tons to 271 tons.
 
However, abaca fibre craft exports, constituting around 19 percent of the country’s overall abaca exports, surged by 195.5 percent from last January’s US$ 402,587 to US$ 1.19 million.
 
During 2012, Philippines earned US$ 108 million from abaca exports, which is a year-on-year fall of 22.86 percent.
 

Fibre2fashion News Desk - India

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