EXPORT earnings from abaca in the first three months of the year rose 12.8% year-on-year, the Philippine Statistics Authority said.
The free-on-board value pf exports was $35.536 million,it said in a statement.
Abaca pulp accounted for a 69.5% share of the value of exports, rising 24% from a year earlier to $24.68 million.
Raw fiber amounted to 23.2% of the shipments during the first quarter, valued at $8.25 million, up 37.5% from a year earlier.
Abaca fabric exports were worth $303,063, more than doubling from a year earlier.
Cordage and fibercraft exports declined, respectively, by 9% and 87.4% year-on-year to $1.87 million and $431,243.
Spain was the biggest importer of Philippine abaca fiber, taking up 33.7% or 1,448.8 metric tons (MT).
Shipments to Europe accounted for 58.2% of total volume.
In the eight months to August, domestic abaca output totaled 42,775.3 MT, up 5.3%. — Janina C. Lim
