In the first two quarters of the current financial year canned tuna remained the top export earner for Central Mindanao region. According to the Philippine Exporters Confederation Inc. (Philexport)-Central Mindanao the 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. It is reported that 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.
It is told that in terms of volume, the exported commodities for the first half of the year weighed in a total of 283.7 million kilograms. It is found that 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. Ronnie P. Masicampo, Philexport-Central Mindanao executive director, told that 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.
In the first quarter the market in US was rampant but in the second quarter the demand was shifted to Europe and so the export has reached to its height. According to Masicampo there is a recession in the United States, demands have dropped and shifted to Europe.
