Philippine bananas slip to number 3 in global export ranking

Published 2023년 3월 16일

Tridge summary

In 2022, the Philippines experienced a decrease in its global banana export rankings, with a 6.5% drop in export volume to 2.273 million metric tons and a 3.66% decrease in export revenue to $1.096 billion, resulting in its lowest levels since 2016. Factors contributing to this decline include the spread of Fusarium wilt and high production costs. The Pilipino Banana Growers and Exporters Association (PBGEA) is advocating for a banana research center to combat these issues. Meanwhile, Philippine President Ferdinand Marcos Jr. is working on reducing input costs by transitioning to domestically produced biofertilizers and has reached an agreement with two Chinese fertilizer manufacturers to provide more affordable fertilizers to farmers.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to preliminary data released by the Food and Agriculture Organization of the United Nations, the Philippines slipped from second to third place in the global banana export rankings in 2022 with a total export volume of 2.235 million metric tons, having been overtaken by Guatemala (2.467 million metric tons). Ecuador once again easily secured first place (6.216 million metric tons), with Colombia (2.125 million metric tons) and Costa Rica (2.122 million metric tons) closely competing for fourth position. As reported in local media, data published by the Philippine Statistics Authority indicate that 2022 saw a 6.5% year-on-year decrease in the country’s banana export volume to 2.273 million metric tons and a 3.66% year-on-year drop in export revenue to $1.096 billion. Despite bananas remaining the country’s second most valuable agricultural export, the recent decline has reportedly caused alarm in the industry as the figures hit their lowest levels since 2016, which ...

Source: Producereport