in H1 2013 Philippine Abaca Output and Exports Have a Slump

Philippines’ abaca output has dipped to 35,060 tons, registering a decline of 5.5 percent during the first half of 2013, compared to 37,120 tons recorded during same period last year, according to data from the Bureau of Agricultural Statistics (BAS).
 
The output value has also dipped 13.57 percent during the period, from P 1.28 billion to P 1.48 billion.
 
Meanwhile, the abaca exports from the country also witnessed a slump this year, owing to slow moving demand from the EU and the US.
 
According to Fibre Industry Development Authority (FIDA) statistics, during the first quarter of the current year Philippines’ abaca exports dropped by 27.4 percent to US$ 22.74 million from US$ 31.33 million in first quarter of 2012, Philippines Star reported.
 
Exports of raw abaca fibre, which contribute around 6.4 percent to overall abaca exports, grew by 21 percent during the first quarter to US$ 1.46 million compared to US$ 1.20 million recorded during the same period last year.
 
However, due to sluggish overseas demand and value-addition efforts at home, abaca pulp exports dipped by 40.1 percent during the period to US$ 14.18 million from previous year’s US$ 23.66 million.
 
Abaca cordage exports also fell by 27.1 percent to US$ 2.76 million from US$ 3.79 million a year ago. Abaca fibre craft exports, constituting around 19 percent of the country’s overall abaca exports, surged by 61.7 percent to US$ 3.72 million from US$ 2.3 million, while, abaca fabric exports jumped 67.2 percent from US$ 371,736 to US$ 621,702.
 
In view of weak demand from traditional export markets, FIDA is now trying to explore new markets.
 
Philippine abaca fibre and products made there-from are shipped to countries like the US, UK, Belgium, France, China, Germany, Taiwan and South Korea.
 
During 2012, the country earned US$ 108 million from abaca exports, which is a year-on-year fall of 22.86 percent.