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Monday, July 22, 2019
CAGAYAN DE ORO

Wood product exports surge

NORTHERN Mindanao region's wood product exports surged during the first quarter of 2019, the National Economic and Development Authority (Neda) regional office reported.

Citing data provided by the Department of Environment and Natural Resources (DENR)-Northern Mindanao, Neda said the region exported 33,570.88 cubic meters of wood products valued at US$2.5 million in the first quarter of 2019.

The volume is 1,394.98 percent higher than the 2,245.57 cubic meters in the same period of 2018. In terms of value, wood product exports increased 336 percent from US$579,516.97 in the first quarter of 2018.

Processed wood exports, on the other hand, went down by 30.7 percent due to a 31.03-percent decline in the volume of lumber processed. Lumber comprised about 68 percent of the total volume of processed forest products.

Veneer production increased by 27.1 percent while plywood production decreased by 62 percent.

Sawlog production, on the other hand, reached 45,160.98 cubic meters during the first quarter of this year, a 47-percent increase compared to the same period in 2018.

The increase, according to Neda, was due to the 56.53-percent increase in production volume in Bukidnon.


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