Coconut product exports lead PH farm exports recovery in January
Philippine exports of agricultural products bounced to $385.5 million in January, a 34-percent jump from last year’s $289.1 million.
According to data from the Philippine Statistics Authority, the growth was fuelled by the recovery of coconut product exports which soared by 184 percent to $217.7 million from $76.8 million a year ago. Much of the recovery can be traced to the robust 230-percent growth in coconut oil product exports to $199.6 million from $60.1 million in the same period last year.
The growth in coconut product exports more than made up for the decline in shipments of fruit, vegetables, and sugar and sugar product exports.
According to the PSA, exports of sugar and sugar products plummeted to $4.3 million from $49 million a year ago.
Fruit and vegetable exports dipped by 0.2 percent to $107.2 million from $107.5 million.
Exports of abaca jumped by 633 percent but it amounted to only $6,000. Exports of natural rubber expanded by 323 percent to $10.5 million but exports of unmanufactured tobacco declined by 17 percent to $3.5 million.