Value of the country's raw and processed seaweed exports dropped by 45.45%, year on year, in the seven months to July due to the effects of a strong peso and low demand in foreign markets, an industry leader said. Industry data showed such exports dropped to $60 million from $110 million in the periods concerned, Benson U. Dakay, president of Seaweed Industry Association of the Philippines, said in a phone interview.

Martin, K. A. (2010, September 7). Philippine seaweed exports drop by nearly half as of July. BusinessWorld, p. S1/3.