PHL agri exports grow 21.5% in November

AGRICULTURE-BASED exports in November rose 21.5% year on year to $658.06 million, according to preliminary data from the Philippine Statistics Authority (PSA).

The PSA said agro-based exports accounted for 9.5% of total exports by value.

Exports in the first nine months rose 25.8% to $6.71 billion, it said.

Coconut products, the Philippines’ top agricultural export commodity, posted a 27.1% increase to $330.82 million in November. The commodity group accounted for 4.8% of total exports.

Fruit and vegetable exports grew 26.2% to $251.37 million in November, accounting for 3.6% of total exports.

Exports of other agro-based products, including seafood, rubber and various types of plant fiber, declined 7.7% to $75.70 million in November. This group of commodities accounted for 1.1% of total exports.

The strongest export growth rates were recorded for dried seaweed (343.3%), desiccated coconut (63.8%), raw coffee (59.9%), pineapple juice (40%), and bananas (38.8%)

The top declines in export growth were posted by rice (-100%), pineapple concentrate (-30.8%), mango (-30.1%), and unmanufactured tobacco (-29.9%). — Vonn Andrei E. Villamiel