The Philippine Cavendish banana exports will reach all-time high record by the end of 2019, based on the obtained data of Philippine Statistics Authority from January to September.
Respectively, the total Philippine banana exports amounted to 3.2 million metric tons (MMT) from January to September while last year’s total export was 3.4 MMT.
As cited in the report of Business Mirror, the present volume of export increased to 45.12 percent over the 2.211 MMT recorded in the same period of last year.
Among the historical data of PSA, this year’s volume is considered the highest.
Moreover, PSA determined that the rapid growth of export was attributed by the high demand of China.
China exhibited its consistency in becoming Philippines top export market of Cavendish.
“During the nine-month period, the Philippines exported 1.157 MMT of bananas to China, which was 52.25 percent over the 760,290.869 MT it shipped out to Beijing in the same period of 2018, PSA data showed,” report stated.
Last year, China outdo Japan as the top export destination of Philippine Cavendish banana.
“You can never go wrong with 1.3 billion people. China’s economy is growing by leaps and bounds over the years,” Pilipino Banana Growers and Exporters Association Executive Director Stephen A. Antig.
Antig also emphasized that China’s growing economy influenced country’s high demand and it’s only a matter of time that China will surpass Japan.
“The Philippines banana exports to Japan rose 48.10 percent to 1.039 MMT, from 701,916.927 MT last year, while shipments to Korea expanded by 46.96 percent year-on-year to 412,741.868 MT,” as report cited PSA data.