Agro-based exports up 7.5% in Feb.

AGRICULTURE-BASED exports in February rose 7.5% year on year to $608.06 million, according to preliminary data from the Philippine Statistics Authority (PSA).

The PSA said agro-based exports accounted for 8.3% of total exports by value.

Exports in the first two months rose 4.5% to $1.19 billion.

Coconut products, the Philippines’ top agricultural export commodity, posted a 6.5% increase to $313.41 million in February. The commodity group accounted for 4.3% of total exports.

Fruit and vegetable exports grew 17.3% to $227.48 million in February, driven by 56.6% growth in shipments of pineapple and pineapple products. Fruit and vegetables accounted for 3.1% of the Philippines’ total exports.

Outbound shipments of other agro-based products, including seafood, rubber, and various types of plant fiber, declined 13.2% to $66.94 million in February. This group of commodities accounted for 0.9% of total exports.

The biggest export gains were recorded for copra meal or cake (547.5%), pineapple concentrate (143.6%), pineapple juice (86.0%), canned pineapple (65.4%), and desiccated coconut (42.7%).

The top declines in export growth were posted by abaca fiber (-76.6%), mangoes (-43.6%), sugar products (-33.7%), rubber (-19.6%), and unmanufactured tobacco (-13.3%). — Vonn Andrei E. Villamiel