PH farm exports dry up slightly in Feb
Philippine farm exports dropped by 5.8 percent in February to $4.3 billion, dragged down by the fall in coconut product exports, data from the Philippine Statistics Office show.
Exports of coconut products tumbled by 25.5 percent to $96 million from $129 million a year ago, with coconut oil exports dipping by 5.1 percent to $79.7 million from $83.9 million despite higher prices.
Exports of most farm products, except for sugar and fruits, fell as the El Nino phenomenon took its toll.
Rice exports, which consist mainly of organic and heirloom varieties, plunged by 40 percent to $16.6 million from $27.7 million a year ago. Tobacco exports plummet by 58.7 percent to $3.2 million from $7.7 million a year ago. Despite government moves to market the country’s coffee, there were no coffee exports reported during the period.
Fish and prawn product exports, however, increased by 1.5 percent to $27.4 million.
Shipments of sugar soared by 340.2 percent to $35.2 million in February as the country moved to fill its US sugar quota.
Fruit and vegetable exports expanded by 15 percent, driven by the strong growth in pineapples. Canned pineapple exports jumped by 84.5 percent to $35.1 million and pineapple juice exports grew by 47.7 percent to $7.6 million.
Banana exports grew by 9.9 percent to $50.3 million but mango exports declined by 48.6 percent to $541,000 from $1.1 million a year ago. (By: Eileen A. Mencias)