Demand for biodegradable materials boosts abaca exports
Abaca exports rose to 12,009.88 metric tons or worth $114.79 million in 2015 due to the rising demand abroad for biodegrable materials, the Philippine Fiber Industry Development Authority (PhilFida) reported.
Volume of exports of the fiber last year was higher by 23.02 percent, from 9,762.75 MT in 2014. Revenues from exports grew to 3.1 percent last year.
The United Kingdom was the top buyer of abaca, accounting for 5,817.5 MT of purchases.
But most of the exports went to Germany, which imported 8,630.59 MT.
Abaca production in the first two months of 2016 has reached 10,622.31 MT, or 14.7 percent higher than the same period last year, with the Bicol region being the top producer.