Vietnam surpasses the Philippines to take the lead in banana exports to China

Published 2024년 6월 12일

Tridge summary

Vietnam has taken the lead in banana exports to China, with a 2.4-fold increase compared to the Philippines, making up 48.6% of China's total banana imports in the first four months of the year. This position is attributed to the decline in Philippine banana production due to climate change and increased logistics costs, alongside China's diversification of sources. Despite the price drop for bananas from all countries, Vietnamese bananas remain competitive. The country's banana export value to China rose by 3% to $145 million, despite a 16% price drop, thanks to a 22% increase in output. Vietnam's banana exports are also popular in Southeast Asia and other countries like Malaysia, Singapore, Korea, Japan, and Qatar. The export value of fruits and vegetables, including bananas, is projected to reach $2.6 billion in the first five months of the year, marking a significant increase from the previous year.

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Original content

The data has just been announced by the General Administration of Customs of China. Accordingly, in the first 4 months of the year, Vietnam's banana export output was 2.4 times higher than that of the Philippines. This is the first time Vietnamese bananas exported to China surpass the Philippines - the country ranked second in banana growing area in the world, after Ecuador. With an export output of 355,000 tons, Vietnam accounts for 48.6% of the total banana output imported into China. However, banana export prices of 10 countries to China simultaneously dropped sharply by 2-39%. Vietnamese goods alone decreased by 16% over the same period last year, down to 407.7 USD per ton. This is also the reason why Vietnam's banana export value in 4 months only reached 145 million USD, up 3% over the same period in 2023, while output increased by 22%. Speaking to VnExpress, the leader of a banana export business in Dong Nai said prices dropped because China diversified its supply sources. ...

Source: VNExpress