THE overall export price index in this year’s first quarter increased by 3.5 per cent to 142.7 points on increase of coffee, tea, fish and cotton prices implying more gains to country export earnings.
When compared to the corresponding quarter last year, the export price index increased by 11.9 per cent, the National Bureau of Statistics (NBS) Export and Import Price Indices for the first quarter this year has shown.
On the other hand, the overall import price index for the quarter under review increased by 2.6 per cent to 119.5 compared to 116.5 recorded in the preceding quarter.
Likewise, when compared to the same quarter last year, the index increased by 4.0 per cent to 119.5 of the first quarter this year. The index for ‘fish and crustacean, mollusk and other aquatic invertebrate’ which account for 9.5 per cent of the total weight rose by 3.5 per cent to 154.9 points due to a rise in prices of fresh and frozen fillet.
The edible vegetables and certain roots and tubers contributed 1.8 per cent of the total weight of the exported commodities with its index increasing by 1.9 per cent to 156.3 points in the first quarter this year from 153.4 points in the fourth quarter.
The export price index for ‘edible fruits and nuts’ went up by 1.5 per cent to 161.7 points in the first quarter due to a rise in prices of raw cashewnut and cashewnut kernel.
Coffee, tea, and spices recorded 147.2 points, equivalent to 15.5 per cent increase compared to 127.5 points in the fourth quarter last year mainly due to a rise in price of tea in the world market.
During the first quarter this year, the export price index for cotton increased by 2.4 per cent to 135 points compared to 131.8 points recorded in the fourth quarter last year mainly due to the increase of prices of cotton in the world market on account of strong global demand.