Abaca exports keeps rising
May.04.06 6:00PM Philippine abaca exports grew by 21% to %80m last year from $66m posted in 2004, Fiber Industry Development Authority (FIDA) reported.
Boosted abaca export volume to 22m metric tons, 18% better than the previous year.
The Philippines is the world's only exporter and main supllier of abaca pulp that has been used to manufacture security and currency papers, cigarette filters, meat and tea casings, medical materials, and high-grade non-woven materials.
FIDA said the discovery of new applications for the product would further improve the country's abaca exports. The Philippine abaca pulp is now being used for composite panels of luxury cars - other than as filter and food casings.
The combined demand in two of the world's biggest consumers, Japan and China, surged by 38%. The volume of export to Japan increased to 5.3m metric tons, while shipment to China rose to 464,000 metric tons.
"There is growing demand especially for our abaca pulp," said Alberto Fenix Jr., president of NewTech Pulp Inc., "but the local supply has not been sufficient."
The government has drawn plans to support abaca companies' upgrading of their production facilities in order to raise value-added in the use of the indigenous product which the Philippines has been exporting in raw form.
*Source: DTI - Philippine Business Report
http://www.sme.com.ph/sme-news/news.php?newsid=162
Boosted abaca export volume to 22m metric tons, 18% better than the previous year.
The Philippines is the world's only exporter and main supllier of abaca pulp that has been used to manufacture security and currency papers, cigarette filters, meat and tea casings, medical materials, and high-grade non-woven materials.
FIDA said the discovery of new applications for the product would further improve the country's abaca exports. The Philippine abaca pulp is now being used for composite panels of luxury cars - other than as filter and food casings.
The combined demand in two of the world's biggest consumers, Japan and China, surged by 38%. The volume of export to Japan increased to 5.3m metric tons, while shipment to China rose to 464,000 metric tons.
"There is growing demand especially for our abaca pulp," said Alberto Fenix Jr., president of NewTech Pulp Inc., "but the local supply has not been sufficient."
The government has drawn plans to support abaca companies' upgrading of their production facilities in order to raise value-added in the use of the indigenous product which the Philippines has been exporting in raw form.
*Source: DTI - Philippine Business Report
http://www.sme.com.ph/sme-news/news.php?newsid=162
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