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The Philippines’ abaca production in the first quarter increased by 4.1%

 Last Update: 2021-05-07
 Source: Internet
 Author: User

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According to a report by the Philippine Business Mirror on April 23, the latest data from the Philippine Fiber Industry Development Agency (PhilFida) showed that the production of abaca in the first quarter was about 15,000 tons, an increase of 4.
1% year-on-year.

This year, PhilFida formulated a draft roadmap for the development of the abaca industry, aiming to triple the abaca production to 61,000 tons per year within 5 years, increase the abaca production to 180,000 tons per year by 2025, and increase the planting area from 90,000 tons per year.
The expansion of hectares to 150,000 hectares, and the yield per hectare more than doubled to 2,000 kg, requires a budget of nearly 20 billion pesos.

Costales, executive director of PhilFida, said that the world's total demand deficit of abaca fiber has reached the "highest level in history" of about 150,000 tons.

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