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Fiji’s export commodities to the United States recorded a slight 0.2 per cent increase for the first quarter of this year, raking in earnings totalling US$31.7 million, it has been confirmed.
The trade office in Washington revealed that Fiji’s main exports in the first quarter were tuna loins, fish, mahogany, agro-produce and mineral water.
Fiji’s trade commissioner to the US Ilisoni Vuidreketi said tuna loins recorded earnings of US$14.8 million – a 26 per cent growth; fresh/frozen fish exports grew by 10 per cent (US$2.3 million); and timber/mahogany exports increased by eight per cent (US$1.1 million).
Mineral water, on the other hand, dropped by 29 per cent and recorded earnings of US$8.8 million; while taro, cassava and agro produce dropped by 24 per cent to US$458,000.
In the same quarter, coffee, tea and cocoa exports from Papua New Guinea to the US dropped 31 per cent to US$21 million; New Caledonian nickel ore, prawns and shrimps exports dropped 72 per cent to US$3.9 million; and Tahitian black pearl, fruits and noni exports dropped 82 per cent to US$7.5 million.
“We are very happy to note the small increase by Fiji at a time when others, unfortunately, have recorded huge declines,” Vuidreketi said.
He highlighted how exports from Pacific Island countries (PICs) to the US had plummeted 43 percent in the first quarter this year, attributed to the effects of the US economic crisis.
The US Foreign Trade Division announced that total PIC exports in the quarter was US$67.5 million, a massive drop of US$51 million from the first quarter 2008 of US$118.5 million.
“This huge decline was mainly the result of negative growth experienced by the region’s big four exporters - Fiji, PNG, New Caledonia and Tahiti, who make up 97 per cent of the region’s US$400 plus million annual exports to the USA,” Vuidreketi reported.
He said a market survey conducted by the Fiji Trade Commission found that during the six months October 2008 to March 2009, a lot of retails shops that carried Pacific island produce had shut down as overall consumer demand declined due to the increasing unemployment here in the USA.
“We expect these challenges to continue to the third quarter 2009 as U.S. consumers become more price sensitive and conservative,” Vuidreketi said.
“However, the recent devaluation of the Fiji dollar has instantly made Fiji exports 20 per cent cheaper and more attractive in this price sensitive consumer environment,” he said.
