PH agri exports down by 4.3% in Q3 2018

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DAVAO CITY (MindaNews / 3 Jan) – Agricultural exports from the Philippines declined by 4.3% in the first quarter of 2018, data released Thursday by the Philippine Statistics Authority (PSA) showed.

The PSA reported that that the revenues from the country’s agricultural exports in the third quarter went down to $1.68 billion, or 9.34% of the Philippines’s overall exports of P18.065 billion, from $1.76 billion in the same period of 2017.

Revenues from Philippines’s overall exports went up by 1.5% from $17.80 billion in the same quarter.

The total agricultural trade of the Philippines in the same quarter was valued at $5.22 billion, a growth of 8.2% from $4.83 billion in the same period of 2017.

But this was driven mostly by agricultural imports valued at $3.54 billion in the third quarter, an increase of 15.5% from $3.06 billion in the same quarter of 2017.

Among major trading partners, PSA said that Japan posted a trade surplus of $273.38 million while other major trading partners showed trade deficits. Among these are Australia with $153.24 million, United States with $470.68 million, Association of Southeast Asian Nations (ASEAN) with $1,070.31 million and European Union (EU) with $102.14 million.

PSA said the country’s agricultural exports to member countries in the Association of Southeast Asian Nations (ASEAN) amounted to $175.63 million, contributing 6% share to the total. Agricultural imports from the ASEAN reached $1.2 billion, comprising a share of 16.% to total imports.

Among the 10 member countries of the ASEAN, Malaysia was the top destination for agricultural exports with revenues worth $57.63 million, or 32.8% of the total agricultural exports.

Thailand was the top supplier of agricultural imports amounting to $403.81 million, or 32.4% of the total agricultural imports.

Major agricultural commodities exported to the ASEAN member countries for the third quarter of 2018 were: tobacco and manufactured tobacco substitutes, $71.43 million; preparation of cereals, flour, starch or milk; pastrycooks’ products, $21.08 million; animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes, $16.39 million; miscellaneous edible preparations, $11.49 million and edible fruit and nut; peel of citrus fruits or melons, $9.11 million.

Top major imports of agricultural goods from ASEAN member countries were cereals with $320.67 million; miscellaneous edible preparations with $247.32 million; animal or vegetable fats and oils and their cleavage products, prepared edible fats, animal or vegetable waxes with $227.36 million; sugars and sugar confectionery with $103.91 million; and preparation of cereals, flour, starch or milk, pastrycooks’ products with $76.88 million.

The PSA said Netherlands was the country’s top buyer of agricultural commodities among the EU member countries with exports amounting to $91.97 million or a share of 34.9%.

In general, exports of agricultural goods to EU member countries in the third quarter of 2018 amounted to $263.47 million or a share of 12.3% to the country’s total exports.

Agricultural imports from EU member countries amounted to $365.60 million, contributing 13.6% share to total imports, the PSA said.

The leading major agricultural exports to the EU member countries for the third quarter of 2018 were animal or vegetable fats and oils and their cleavage products, prepared edible fats, animal or vegetable waxes, $82.17 million; preparation of meat, of fish, or of crustaceans, mollusks and other aquatic invertebrates, $58.99 million; preparation of vegetables, fruit, nut and other parts of plants, $32.32 million; edible fruit and nuts, peel of citrus fruits or melons, $30.34 million; and fish and crustaceans, mollusks and other aquatic invertebrates, $19.84 million.

The top import commodities from the EU were: meat and edible meat offal, $114.55 million; dairy products, bird’s eggs, natural honey, edible products of animal origin, not elsewhere specified or included, $56.69 million; residues and waste from the food industries and prepared animal fodder, $47.41 million; beverages, spirits and vinegar, $32.25 million; and miscellaneous edible preparations, $17.88 million. (Antonio L. Colina IV / MindaNews)

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