The Philippines loses banana market share in China to Vietnam

Published 2024년 11월 14일

Tridge summary

China has significantly reduced its banana imports from the Philippines, decreasing by 49% to 255,636 tonnes by the end of July, compared to the same period last year. This has resulted in the Philippines losing its top spot as China's banana supplier to Vietnam, which has seen a 19% increase in its exports to China. The Pilipino Banana Growers and Exporters Association (PBGEA) has attributed this decline to geopolitical tensions with China, as well as the country's volatile spot pricing mechanism, which favors long-term contracts. The Philippines is already grappling with challenges in its banana industry, such as high production costs, pests, diseases, logistical issues, and weather disturbances, and is facing increased competition from other supply countries like Vietnam, Cambodia, and Laos.

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Original content

China has cut back on banana imports from the Philippines amid rising geopolitical tensions in the West Philippine Sea, according to reporting from The Philippine Star. As of the end of July, imports had dropped 49 per cent year-on-year to 255,636 tonnes, based on International Trade Centre (ITC) data. The dip also meant the Philippines’ share of China’s banana market fell to 24.53 per cent compared to 37.49 per cent during the same seven-month period the year prior. As a result, Vietnam has, for the first time, overtaken the Philippines as the top banana supplier to China. According to The Philippine Star, Vietnam’s banana exports to China expanded by 19 per cent year-on-year to 438,573 tonnes and the country now holds 42 per cent market share, up from 33 per cent from the January to July period in 2023. The Pilipino Banana Growers and Exporters Association (PBGEA) cited geopolitical tensions between the countries as an important factor in shipment numbers. “Geopolitical policies ...

Source: Fruitnet