Top agricultural exports down 2%

MANILA, Philippines - The country’s top 10 agricultural exports suffered last year a two-percent decline, according to preliminary figures announced yesterday by Agriculture Undersecretary Jesus Paras.

But while volume declined, export value grew 28 percent to $2.9 billion from 2007’s export value of $2.2 billion.

In a speech at the opening of the Philippine Food Expo yesterday at the SM Megamall in Mandaluyong City, Paras said the weaker export sales is due to the global economic crisis affecting the Philippines’ major export markets which include the United States, Europe and Japan.

The US, Paras said, is still the country’s premier export market, accounting for 28 percent or $800 million.

The Euro zone, which accounts for 21 percent, Paras said, imported  $594 million of the top 10 exports of the Philippines.

Japan, Paras said, accounted for 14 percent or $400 million.

Coconut oil exports, which is the Philippines’ number one export commodity declined by nearly 40,000 tons in 2008 to 850,000 tons. However, the export value of coconut oil increased 56 percent from $734 million in 2007 to $1.04 billion in 2008, Paras said.

Fresh bananas were the second top export commodity last year with an export value of $397.4 million; followed by tuna with an export value of $388 million.

Pineapple and pineapple products was the country’s number four top export commodity with a value of $253.5 million.

Coming in at number five was descicated coconut with an export value last year of $240.3 million, followed by milk and cream products with an export value of $162.5 million.

Manufactured tobacco was the country’s No. 7 top export commodity last year with an export value of $125.26 million, followed by seaweeds and carageenan with an export value of $122 million.

At No. 9 was shrimps and prawns with an export value of $69 million and sugar with an export value of $64 million.

In light of the continuing global economic crisis, Paras said that the Department of Agriculture will tap new and emerging markets, while strengthening the country’s stronghold in traditional markets.

The DA is urging the rural sector to diversify and produce various commodities of good quality.