Coco-based products power 79 percent rise in Normin Exports
Mike Banos
June 01, 2011
Traditional coconut-based exports made a big comeback in Northern Mindanao in 2010, powering total exports from Region 10 to US$926.91-million, a 78.80 percent increase over 2009.
Citing figures from the Department of Trade and Industry Region 10 office (DTI-X), the National Economic and Development Authority Region X office (NEDA-X) said in a media forum held March 30 revenues were pulled up by exports of crude coconut and cochin oil which increased by almost five times and oleochemicals which doubled compared to the previous year.
Coconut-based products like crude coconut oil, oleochemicals and dessicated coconut remained the region´s top exports, contributing over half of export revenues (68 percent) and tripling in value compared to 2009.
Misamis Oriental remained the region´s top exporter with over half (53.16%) of total revenues followed by Lanao del Norte (26.40 percent), Misamis Occidental (14.13) and Bukidnon (6.28).
Export growth was most impressive in Misamis Occidental, growing for four consecutive quarters before topping off at 738.48 percent. This was attributed mainly to the resumption of operations of two oil mills (Ozamco, Third Millennium Mill) and two prawn processing plants (AA-Millennium Ocean Star, HJR International Corp).
In contrast, export growth in Bukidnon declined due to the reduction in the province´s staple sugar exports while the slump in Lanao del Norte was mainly attributed to exports of cold rolled steel coils and abaca pulp.
Citing figures from the Department of Trade and Industry Region 10 office (DTI-X), the National Economic and Development Authority Region X office (NEDA-X) said in a media forum held March 30 revenues were pulled up by exports of crude coconut and cochin oil which increased by almost five times and oleochemicals which doubled compared to the previous year.
Coconut-based products like crude coconut oil, oleochemicals and dessicated coconut remained the region´s top exports, contributing over half of export revenues (68 percent) and tripling in value compared to 2009.
Misamis Oriental remained the region´s top exporter with over half (53.16%) of total revenues followed by Lanao del Norte (26.40 percent), Misamis Occidental (14.13) and Bukidnon (6.28).
Export growth was most impressive in Misamis Occidental, growing for four consecutive quarters before topping off at 738.48 percent. This was attributed mainly to the resumption of operations of two oil mills (Ozamco, Third Millennium Mill) and two prawn processing plants (AA-Millennium Ocean Star, HJR International Corp).
In contrast, export growth in Bukidnon declined due to the reduction in the province´s staple sugar exports while the slump in Lanao del Norte was mainly attributed to exports of cold rolled steel coils and abaca pulp.
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