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Besieged traders suffer bigger losses from storm

10/12/2009

Exporters who are already reeling from the global slowdown suffered more losses from the destructive typhoon "Ondoy," particularly on holiday decors and gifts export businesses were expected to have reached millions of pesos.

Reeling from this situation, most of these companies participating in the Manila F.A.M.E. International slated this month are awaiting revenue results from the trade show to determine whether they will continue operations, Nora Halili Lao, Philippine Exporters Confederation (Philexport) trustee for the holiday decors and giftwares sector, said.

"They are still adopting a wait-and-see attitude depending on the Manila F.A.M.E. results. During the show, they will know if they still have buyers," she said.

The Manila F.A.M.E is the biggest bi-annual trade show for home and lifestyle products. This year, it will take place this Oct. 15 to 18 at the SMX Convention Center and the World Trade Center.

Lao recounted how typhoon Ondoy affected businesses of some members of Christmas Decor Producers and Exporters Association of the Philippines (CDPEAP) and the Philippine Chamber of Handicraft Industry (PCHI). Half of them are located in typhoon-devastated areas of Marikina, Antipolo, Taguig, Cainta and Pasig.

She said one exporter, Enriquez Handicraft Inc., lost $10,000 (around P470,000) worth of handicraft products ready for shipment to the United States due to typhoon Ondoy.

On the other hand, four other exporters — CD Handicrafts Inc., ARH Handicraft, Getzon Leathergoods and Aineo Handicraft incurred cumulative revenue losses of P1 million, she added.

Lao said the owner of CD handicrafts shelled out personal money to help her suppliers recover. Their homes were either lost or damaged by the Sept. 26 typhoon.

Despite this, she said most of the exporters of holiday decors and giftwares were thankful for the holding of August Buy Pinoy Exporters Fair and this month’s Pamasko ni Kuya fair where they were able to unload most of their stocks.

"Without these events, their losses (due to the typhoon) could be higher," she stressed.

Amid another devastating blow to the export sector’s growth, Lao renewed their appeal to the government to fast track the release of the P1-billion Export Support Fund.