Abaca export income hits $54 million in 4 months

MANILA, Philippines — The country’s export earnings from abaca products went up by 14 percent in the first four months due to the continued strong demand from major markets, according the Philippine Fiber Industry Development Authority (PhilFIDA).

According to PhilFIDA, abaca export sales reached $53.9 million from January to April compared to $46.5 million in the same period in 2019.

Abaca pulp accounted for $45 million of total exports, up by 34 percent year-on-year. It accounted for the bulk , or 84 percent, of total abaca exports.

Markets in Asia purchased 1,208.2 metric tons (MT), 20 percent higher from the 2019 level of 1,003.5 MT, while shipment volume to the US surged by 178 percent to 1,451.9 MT.

Shipments to Europe also went up by 22 percent to 7,625.1 MT.

Total volume of abaca pulp exports improved by 32 percent at 10,285.3 MT.

Exports of fabrics, meanwhile, reached $281,000, a 3.2 percent decrease from the $290,000 recorded a year earlier.

The value of raw fiber exports also decreased by 29 percent to $6.9 million, while that of cordage exports slumped by 59 percent to $1.3 million.

Further, the value of outbound shipments of fiber crafts dipped by 33 percent to $342,000 from $510,000 in 2019.

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

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

Abaca remains one of the top agricultural commodities of the country.

The Philippines supplies more than three fourths of the world’s total abaca fiber demand. Abaca contributes more than $100 million to the country’s total trade annually.