The country’s agricultural exports from January to September grew by 1.4 percent to $3.724 billion, driven by double-digit growth in the export receipts of coconut products and pineapple-based items, government data showed.
Latest Philippine Statistics Authority (PSA) data showed that farm exports during the nine-month period grew by $50.932 million from $3.673 billion recorded in the January to September period of last year.
PSA data showed the 43.3-percent and 9.5-percent growth in exports of coconut products and other agro-based products, respectively, lifted the overall farm exports during the reference period reports businessmirror.com.ph
The agricultural exports accounted for 6.68 percent of the country’s total exports in the nine-month period, which reached $55.679 billion, based on PSA data.
Export receipt from coconut products expanded by $395.958 million to $1.310 billion from $914.28 million last year, with all coconut-based items posting positive growth, based on PSA data.
PSA data also showed that the value of centrifugal and refined sugar rose by 12.4 percent year-on-year to $64.9 million from $57.74 million.
However, PSA data showed the country’s fruits and vegetables exports declined by 20.4 percent year-on-year to $1.625 billion from $2.041 billion last year due to lower banana and mango shipments.
PSA data showed that earnings from banana exports fell by 37.3 percent year-on-year to $821.5 million, while shipments of mangoes declined 20.3 percent to $9.44 million from $11.85 million last year.
Nonetheless, PSA showed the country’s earnings from pineapple-related products increased by double-digit growth rate during the reference period. The country’s earnings from canned pineapple exports rose by 25.8 percent to $234 million from $185.99 million while exports of pineapple concentrates grew by 49.9 percent to $127.58 million.