Abaca export earnings fall 20.5% in Jan-Sept

MANILA, Philippines - Export earnings from abaca fiber and manufactures fell 20.5 percent in the first nine months of the year because of lower demand for pulp and raw fiber, according to the Fiber Industry Development Authority (FIDA).

Export earnings from January to September this year reached $88.19 million, down 20.5 percent from $110.90 million in the same period last year.

The export value of abaca pulp fell 23.1 percent during the period to $63.12 million from $82.04 million in the same period last year.

Export earnings from cordage rose 6.9 percent to $13.85 million in the first nine months of the year from $12.95 million in the same period last year.

Earnings from outbound shipment of fabrics fell 4.1 percent to $761, 408 from $793, 707 from the same period last year.

Export earnings from fibercrafts rose 32.1 percent to $5.57 million during the period from $4.22 million last year.

Earnings from outbound shipment of raw fiber fell 55.2 percent to $4.88 million in the first nine months of the year from $10.89 million.

Abaca is a material used for making tea bags, casing of meat sausages, surgical masks and cigarette paper.

Philippine abaca products are sold to countries like the US, Germany, United Kingdom, France, Belgium, China, Taiwan and South Korea among others.