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MANILA – Abaca exports in the first four months of this year fell by nearly a tenth from a year ago, according to the Fiber Industry Development Authority.
In a report, Mystic Pelayo, officer-in-charge of the FIDA planning and statistics division, said export earnings fell 8.3 percent to $43.06 million in the January to April period, from $46.97 million a year ago.
Raw fiber exports dropped 60 percent to $1.69 million from last year’s $4.23 million, as volume likewise fell 60.7 percent to 10,192 bales from 25,908 in 2011.
Shipments to the rest of Asia – the Philippines’ biggest market – declined 77 percent year-on-year.
Cordage exports dropped by 3.4 percent to $5.022 million from $5.20 million last year, with volume slipping 12 percent to 2,091 metric tons this year.
Pulp exports similarly dropped to $32.77 million from $34.04 million last year, despite a four percent increase in volume shipped during period.
"Although shipment of abaca fiber remained low, pulp exports remained high. Instead of exporting abaca in raw form, the fiber is processed and exported as pulp," Pelayo said.
She said demand for pulp will grow with the increasing use of filter paper for disposable coffee and tea cups.
FIDA earlier forecast a 10 percent growth this year, after exports fell 34.3 percent in 2011.
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