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Philippines abaca exports grow significantly

14
Dec '11
Continuing with last year's growth momentum, abaca fibre exports from Philippines grew significantly during the first three quarters of current year.

Abaca fibre exports from Philippines grew to US$ 110.896 million during the initial nine months of the current year compared to exports worth US$ 78.143 million during the corresponding period of last year, according to figures released by the Fiber Industry Development Authority (FIDA).

According to the FIDA Administrator, Cecila Gloria Soriano, high prices and good demand in the global market have steered the rise in Abaca exports.

Abaca fibre is known for its versatility and it can be used for weaving abaca fabric and also as a blending material with pina, polyester or silk to facilitate production of high-end fabrics. Moreover, abaca fibre even finds utility in preparation of abaca ropes and cordage.

Filipino abaca fibre is known across the world as Manila hemp. Japan, Britain, the US and Germany are leading buyers of Filipino abaca fibre, pulp and cordage.

Mystic Pelayo representing the FIDA Planning and Statistics Division informed that Philippines is the world's largest abaca fibre supplier and contributes around 86 percent of the world output, while the rest 14 percent comes from Ecuador.

The country exported around 8,019 tons of abaca fibre during the initial nine months of the current year, three percent more than exports made during corresponding period of last year, Pelayo said.

Philippines earned around US$ 104.525 million from abaca exports during 2010.

Fibre2fashion News Desk - India


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