Abaca-fiber exports up 115.6%

THE country’s abaca-fiber shipments abroad went up by 115.6 percent to 7,093.18 metric tons (MT) or 56,745.4 bales of 125 kilograms in January to August 2010, according to figures released by the Fiber Industry Development Authority (Fida).

The single biggest buyer of Philippine abaca fiber was the United Kingdom, which bought 23,290 bales of 125 kilograms, or 2,911.25 MT, Fida figures showed.

“The United Kingdom’s purchases for the period were 121.6 percent higher over the 10,510 bales of 125 kg it purchased in 2009,” said Fida.

Per region, Asia accounted for the lion’s share of abaca-fiber purchases at 33,385.4 bales of 125 kg or  4,173.18 MT. This is 123.3 percent higher than the total purchases of Asian countries in 2009.

Japan was the biggest buyer of Philippine abaca fiber in Asia at 24,394 bales of 125 kg, or 3,049.25 MT.

China was the second-biggest buyer at 7,995 bales of 125 kg, or almost 1,000 MT.

Fida, an attached agency of the Department of Agriculture, attributed the increase in shipments of abaca fiber to higher demand from traditional markets of the produce.

Meanwhile, abaca production for January to September went up by 1.1 percent to 298,057.7 bales of 125 kg, or 37,257.21 MT.

Earlier, Fida said recovery in demand from developed countries will boost the country’s abaca-fiber exports for 2010 and cause shipments to go up by 35 percent. The agency said local abaca exporters could ship out 10,000 MT of abaca fiber for the whole year.

Mystic Pelayo, Fida’s supervising statistician, said the Philippines may be hard-pressed to repeat its 2008 performance for abaca-fiber exports.

That year the country shipped out 13,000 MT of abaca fiber on the back of increased demand from traditional markets such as Europe and Japan.

In 2009 Fida noted that the Philippines shipped out a total of 7,400 MT of abaca fiber. This was almost half of the total volume exported the previous year. Fida attributed this to the global recession which caused demand for abaca fiber to dampen. –Jennifer A. Ng / Reporter, Businessmirror