Data from Philippine Statistics Authority (PSA) revealed that Philippine bananas continue to become in demand in China. The said crop increased its export by more than half from January to June this year.
Moreover, PSA data showed that exported bananas amounted to 2.165 million metric tons, 756,000 MT, which is over than the 1.409 MMT recorded last year.
The value of export in the first half of 2019 is $983.740 million, 7.5 percent higher than the $624.704 million recorded in 2018.
According to the PSA, this was the highest export volume and the first time that the Philippine bananas exceeded 2 MMT in the first six months.
Report from Business Mirror mentioned that Philippines can surpass the record high banana shipments of 3.126 MMT in 2018.
Markets of Philippine bananas
To date, China led the key markets of the Philippine bananas. The country procures 71.74 percent year-on-year during the year.
A total of 36.88 percent, 798,497.959 MT, is attributed by China. During the year, the value of export accounted from China rose by 70.8 percent.
Philippine bananas that was exported to China valued at $345.157 million from $202.027 million recorded last year.
Meanwhile, Japan became the second key market of the Philippine Cavendish banana.
Japan imports amounted to 31 percent of the total volume with 673,287.088 MT. Japan’s total export increased by 58 percent from last year’s 426,015.161 MT.
With 300,458.876 MT, South Korea ranked third as the top market of the Philippine bananas. Volume of export increased by 62 percent while value rose by 49.1.
Apart from the figures, Department of Agriculture, together with the stakeholders of the banana industry, seeks to maintain the Philippines as the second-largest producer of Cavendish banana in the world.
On the other hand, Filipino growers urged more support from the government in providing facilities that will help them maintain their productivity.
Moreover, export of Philippine Cavendish banana grew by 77.34 percent, an all-time high of 2.95 MMT, from 1.663 MMT recorded in 2017, the United Nations’s Food and Agriculture Organization (FAO) revealed.
“Banana production in the Philippines had been affected by a series of adverse conditions between 2015 and 2017. In response to the issue, significant investments were made in area expansion, new technologies and improved inputs,” FAO stated in the report.