THE Philippine Statistics Authority (PSA) Davao regional office reported that East Asian markets remained the top export destination of products from Davao Region in the third quarter of 2018.
Data showed that Japan, China, South Korea were the three major export destinations of commodities coming from Davao Region from July to September 2018.
Exports to Japan amounted to around US$225.7 million for the period under review. Japan was also the top exporter in the same period in 2017 with exports of $98.69 million.
Exports to China reached $183.3 million while South Korea received $73.3 million worth of Davao exports.
Other top export destinations were Hong Kong ($42.78 million), United States of America ($33.46 million), Netherlands ($33.21 million), Malaysia ($23.9 million), United Arab Emirates ($16.33 million), Iran ($13.44 million), and Spain ($8.42 million).
Bananas remained the top export commodity in the third quarter of 2018 at $455.9 million, a 133.68-percent increase from $195.1 million in 2017.
However, the two major organizations for Cavendish banana exporters -- Philippine Banana Growers and Exporters Association (PBGEA) and Mindanao Banana Farmers and Exporters Association Inc. (MBFEA) -- warned that banana production would likely be lower this year.
The groups said banana farmers are affected by the dry spell brought about by El Niño and also continue to struggle with the Panama disease.
Other top exports were fresh or dried pineapples at $45.29 million; copra ($43.53 million); desiccated coconut ($33.62 million); gold, including fold-plated with platinum ($26.32 million); other fruits such as lychees, longans, jackfruit, mangoes, among others ($25.18 million); activated carbon ($20.66 million); and natural rubber in other forms such as air-dried sheet, lates crepe, sole crepe, among others ($13.72 million).