Northern Mindanao exports post 6% growth in 3Q of 2011
Northern Mindanao exported a total of US$251.22 million worth of products during the third quarter of 2011. This posted an increase of 5.59 percent, compared to the US$237.93 million worth of exports during the same period last year PIA reports.
Misamis Oriental contributed the biggest share in the total exports with US$139.36 million or 55.47 percent, followed by Lanao del Norte and Bukidnon sharing US$67.3 million or 26.79 percent and US$44.2 million or 17.59 percent, respectively. In terms of growth rate, Bukidnon registered the highest rate at 601.59 percent while Misamis Occidental recorded the highest negative growth rate at 99.24 percent followed by Camiguin at negative 33.33 percent.
The positive growth rate of Bukidnon was due to the increase of exports of sugar cane products which is one of the province’s major exports, said Engr. Cecilio Y. Clarete, Knowledge Management Division Chief of the National Economic Development Authority (NEDA) in Northern Mindanao during the Media Forum held yesterday at the NEDA Conference Room, here. He said the export performance of Camiguin fell because of lack of raw materials for coconut shell charcoal. The increasing competition for the production of the same product in Misamis Oriental also adversely affected the raw materials supply of Camiguin, he added.
Meanwhile, the region’s top dollar earners for the quarter were coconut oil and oleo chemicals with a combined share of 31.24 percent of the region’s total exports. In terms of value, coconut oil posted US$40.13 million while oleo chemicals were recorded at US$38.35 million.
Clarete said the raw cane sugar of Bukidnon and the canned pineapple products of Del Monte Philippines’ followed closely, sharing 13.07 percent and 12.90 percent, respectively. Other top earner commodities included abaca pulp/fiber, iron ore, desiccated coconut, lumber, copra-based products and fresh bananas, he further said.
He also cited that a surge in the exports of mineral-based iron ore was noted in this quarter with a growth rate of 4,452 percent compared to its performance during the same period last year. On the other hand, declining growth rates were recorded for coconut oil and copra-based based products despite being the region’s main exports in terms of value, Clarete further cited.
Misamis Oriental contributed the biggest share in the total exports with US$139.36 million or 55.47 percent, followed by Lanao del Norte and Bukidnon sharing US$67.3 million or 26.79 percent and US$44.2 million or 17.59 percent, respectively. In terms of growth rate, Bukidnon registered the highest rate at 601.59 percent while Misamis Occidental recorded the highest negative growth rate at 99.24 percent followed by Camiguin at negative 33.33 percent.
The positive growth rate of Bukidnon was due to the increase of exports of sugar cane products which is one of the province’s major exports, said Engr. Cecilio Y. Clarete, Knowledge Management Division Chief of the National Economic Development Authority (NEDA) in Northern Mindanao during the Media Forum held yesterday at the NEDA Conference Room, here. He said the export performance of Camiguin fell because of lack of raw materials for coconut shell charcoal. The increasing competition for the production of the same product in Misamis Oriental also adversely affected the raw materials supply of Camiguin, he added.
Meanwhile, the region’s top dollar earners for the quarter were coconut oil and oleo chemicals with a combined share of 31.24 percent of the region’s total exports. In terms of value, coconut oil posted US$40.13 million while oleo chemicals were recorded at US$38.35 million.
Clarete said the raw cane sugar of Bukidnon and the canned pineapple products of Del Monte Philippines’ followed closely, sharing 13.07 percent and 12.90 percent, respectively. Other top earner commodities included abaca pulp/fiber, iron ore, desiccated coconut, lumber, copra-based products and fresh bananas, he further said.
He also cited that a surge in the exports of mineral-based iron ore was noted in this quarter with a growth rate of 4,452 percent compared to its performance during the same period last year. On the other hand, declining growth rates were recorded for coconut oil and copra-based based products despite being the region’s main exports in terms of value, Clarete further cited.