The country’s earnings from abaca exports dropped by more than a fourth in the first quarter of the year as demand continued to slow down due to the economic crisis in traditional markets, the Fiber Industry Development Authority (FIDA) said on Thursday.
“There are still traces of the economic crisis in the United States and Europe and that affected our exports,” said Imelda Marbella, FIDA officer-in-charge of Planning and Statistics Division.
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