Abaca Exports up 22.9% in January – July

The country’s export earnings from abaca fiber and other products grew 22.9 percent in the first seven months, bolstered by a higher demand for pulp.

Fiber Industry Development Authority (FIDA) data showed that total revenues reached USD77.47 million in January to July, up from USD63.01 million in the same period last year.

Export earnings from abaca manufacturers surged 24.1 percent to USD63.99 million from USD51.55 million over the period.

Abaca manufacturers comprised 82.6 percent of the country’s total exports during the seven-month period.

Abaca pulp shared 67.6 percent to export earnings, fibercraft at 8.6 percent and cordage at 5.7 percent.

Abaca raw fiber, which comprised the remaining 17.4 percent of export sales, increased by 17.6 percent to USD13.48 million. (PNA)CVL/LDV