Agri trade flat in Q2

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    The Philippine Statistics Authority (PSA) said that total agricultural trade of the country for the second quarter of the year was flat at $5.09 billion from a year ago.

    Agriculture exports surged by 10.5 percent to $1.74 billion from $1.57 billion.

    Imports, however, fell 4.7 percent to $3.35 billion from $3.52 billion.

    PSA said among commodity groups, edible fruit and nuts; peel of citrus fruit melons amounting to $693.89 million, accounted for the largest share of 40 percent to the total agricultural exports.

    Export of the said commodity grew by 37.4 percent in the second quarter of 2019 from $504.95 million export value in the second quarter of 2018 with China as the top buyer.

    Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes ranked second with a share of 17.3 percent to the total agricultural exports or a value of $300.75 million in the second quarter of 2019.

    However, export of the said commodity weakened by 5.9 percent from the $319.44 million export value in the same period of 2018 with Netherlands as the major destination.

    Preparations of vegetables, fruit, nuts or other parts of plants placed third, contributing 7.4 percent to total agricultural exports. Export of the commodity decreased by 4.8 percent from $135.40 million with the United States as its top buyer.