Monday, September 08, 2008 Canned tuna tops Central Mindanao export
CANNED tuna product remained the top export earner for Central Mindanao region in the first two quarters of this year that saw United States, a major trading partner of the Philippines, dropping second fiddle to Europe, data showed.
Total value of canned tuna products in the six months to June 2008 reached $136.6 million, with second quarter value surging by 66 percent to $82.3 million from $54.3 million in the first quarter, records from the Philippine Exporters Confederation Inc. (Philexport)-Central Mindanao showed.
Six of the country's seven tuna canneries are based in General Santos City, dubbed as the "Tuna Capital of the Philippines."
The total regional output for its top 10 commodities shipped abroad amounted to $295 million, with the first quarter accounting for $133.6 million and the following quarter $162.3 million.
In terms of volume, the exported commodities for the first half of the year weighed in a total of 283.7 million kilograms.
As far as destination is concerned, Europe dislodged the United States as the top market during the second quarter, with the former buying $69.8 million of the region's products and the latter taking in $43 million.
In the first quarter, the United States took the bulk of the region's exports at a value of $51 million while Europe absorbed only $47.6 million.
In an interview, Ronnie P. Masicampo, Philexport-Central Mindanao executive director, said the recession in the United States could have been the factor why Europe emerged as the top market destination for Central Mindanao in the second quarter of the year.
"There's a recession in the United States, demands have dropped and shifted to Europe," he explained.
Japan consistently maintained its third place ranking in the first ($8.7 million) and second ($23.1 million) quarters for a total of $31.8 million. (BSS)
