The total value of abaca exports in the first five months of the year jumped by over 24 percent, data from the Philippine Fiber Industry Development Authority (PhilFIDA) showed.
PhilFIDA said total exports of abaca from January to May reached $88.55 million compared to the previous year’s $70.99 million as all byproducts experienced a growth.
Abaca fibercrafts registered the biggest increase at 98.8 percent to $726,713 from $365,629. Abaca cordage recorded an increase of 51.9 percent to $2.47 million from $1.63 million.
Abaca fabrics and yarns booked a 45.3 -percent increase to $448,097 from $308,371 as abaca raw fiber earnings rose 34.1 percent to $13.3 million from $9.92 million while shipments of abaca pulp improved 21.8 percent to $71.59 million from $58.77 million.
From the total exports of 49,894 raw abaca fiber bales of 125 kilograms during the period, most of the orders came from the United Kingdom with 25,125 bales equivalent to 50.4 percent.
Other importing countries of raw abaca fiber are Japan, 11,345 bales (22.7 percent); China, 9,079 bales (18.2 percent) and Spain, 4,105 bales (8.2 percent).
Data provided by PhilFIDA also showed from the 15,766.392 metric tons (MT) of abaca pulp exported, United Kingdom at,446.078 MT (47.2 percent). Germany followed with 4,999.318 MT (31.7 percent) trailed by Japan with 1,066.523 MT (6.8 percent) and the United States with 654.705 MT (4.2 percent).
Likewise, from the 898 MT of abaca cordage exports, 495.6 MT or 55.2 percent of it was purchased by the US.
Other nations which bought most of the said abaca product also include Singapore with 56.2 MT (6.3 percent), Netherlands with 50.8 MT (5.7 percent) as well as United Kingdom with 36.1 MT (4 percent).
