The country’s banana exports in January to June rose by more than half due to China’s huge appetite for the tropical fruit, data from the Philippine Statistics Authority (PSA) showed.
Preliminary export figures released by the PSA showed that shipments in the first half reached record high of 2.165 million metric tons, 756,000 MT over than the 1.409 MMT recorded last year.
PSA historical data showed this was the highest volume exported by the Philippines and the first time that shipments exceeded 2 MMT in the first half alone.
At this rate, the Philippines is poised to surpass last year’s record high banana shipments of 3.126 MMT.
PSA data also showed that the value of exports in the first half reached $983.740 million, 57.5 percent higher than the $624.704 million recorded last year.
Key markets
Among the key markets for Philippines bananas, China led the pack, as its purchases during the period rose by 71.74 percent year-on-year.
China, which accounted for 36.88 percent of total banana exports, bought 798,497.959 MT compared to the 464,932.726 MT it imported from the Philippines in first half of 2018, PSA data showed.
Total banana shipments to China during the period were valued at $345.157 million, 70.8 percent higher than the $202.027 million recorded last year.
After being overtaken by China, Japan has remained as the country’s second top market for bananas.
Exports to Japan, which accounted for 31 percent of total volume, rose by 58 percent to 673,287.088 MT, from 426,015.161 MT last year, PSA data showed. Total exports to Japan in the first half were worth $341.529 million.
Shipments to South Korea, the third biggest buyer of Philippine bananas, reached 300,458.876 MT which was valued at $140.816 million, PSA data showed. The volume and value were 62 percent and 49.1 percent higher than last year’s 185,467.062 MT and $94.422 million, respectively.
The Department of Agriculture and local banana industry stakeholders are keen on maintaining the country’s stature as the world’s second-largest exporter of bananas.
The Philippines reclaimed its position as the second-largest exporter of bananas in the world, but Filipino growers urged the government to provide more support to maintain this, amid stiff competition from South American producers.
In its preliminary market review report in February, the United Nations’s Food and Agriculture Organization (FAO) estimated that Philippine banana exports last year expanded by 77.34 percent to an all-time high of 2.95 MMT, from 1.663 MMT recorded in 2017.
“Banana production in the Philippines had been affected by a series of adverse conditions between 2015 and 2017, in response to which significant investments were made in area expansion, new technologies and improved inputs,” FAO said in the report.
“Thanks to the strong performance in 2018, the Philippines regained its place as second-largest supplier of bananas behind Ecuador, at a volume share of 16 percent of global shipments,” it added.
Image credits: Photographer: Luong Thai Linh/Bloomberg