Abaca sales increase as of Oct.


Sorosogon City’s note: Abaca was one of the number one produce of the province of Sorsogon. Mainly, it was used to produce ropes and paper. However, it started to dwindle when alternative products started to appear. One can still see some abaca fibers being dried under the sun in interior of Brgy. Guinlajon.

Posted on January 08, 2012 11:49:06 PM

BY LOUELLA D. DESIDERIO, Reporter

PHILIPPINE ABACA sales to other countries rose 44.1% as of end-October 2011 compared to the previous year on the back of higher demand for the product.

Data from the Fiber Industry Development Authority (FIDA) obtained late last week showed the value of abaca exports reached $122.014 million in the 10 months to October, up from the $84.679 million in the comparable period in 2010.

Mystic T. Pelayo, officer-in-charge of the planning and statistics division of the FIDA, said in a text message on Friday that the rise in export sales was due to the increase in demand for abaca products, particularly, abaca pulp and cordage.

“The biggest increase in pulp exports was in Europe, especially Germany, UK, France, as well as exports to United States,” she said.

The data showed the country exported abaca pulp, cordage, fabrics, fibercrafts as well as raw fiber.
Ms. Pelayo said that given the high demand for abaca, the country is on track to meet its $140-million projection in export sales for 2011.

“The $140-million target is achievable,” she said.

The $140-million projection for the value of 2011 abaca exports is 34% higher than 2010’s actual sales of $104.5 million, beating FIDA’s initial expectations of a 15% year-on-year increase.

Asked for an outlook for 2012, she replied that FIDA expects abaca exports sales to climb by 10% from the projected $140 million last year as foreign markets increase their purchases of the product.

Original article.

Related article – Sorsogon Hemp for Sales circa Dec. 17, 1870

Advertisements
This entry was posted in Economy and Business and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s