Cambodian banana exports plummet nearly 25%

Published Aug 14, 2023

Tridge summary

The Ministry of Agriculture, Forestry and Fisheries of Cambodia reported a significant 24.4% drop in fresh banana exports in the first half of 2023 compared to 2022, attributing it to market instability, climate change impacts on product quality, and lack of customs statistics for exports to Vietnam and Thailand. However, the director of Longmate Agriculture is optimistic about the outlook for banana exports in 2023, citing China's reopening of the market, increased demand, and slightly lower transportation costs as positive factors. The decline in banana prices is a global phenomenon related to the global economy, but with better weather and improved quality, the second half of the year may see a more optimistic outlook for banana exports.

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

Original content

According to the report of the Ministry of Agriculture, Forestry and Fisheries of Cambodia, the total export of fresh bananas in Cambodia in the first half of 2023 will be 165,552.92 tons, a sharp drop of 24.4% compared to 2022. the Im Rachna, spokesman for the Ministry of Agriculture, Forestry and Fisheries, attributed the drop in banana exports to market instability, the impact of climate change on product quality, and the lack of customs statistics for Cambodia’s exports to Vietnam and Thailand. Rachna said more than 90 percent of Cambodia’s fresh bananas are Exports to China, while China is also an important market for Cambodian agricultural products such as rice, cassava and mango. the Hun Lak, director of Longmate Agriculture, which grows bananas and exports them to China, believes that the outlook for banana exports in 2023 is good compared to 2022. Lak believes that China's reopening of the market, increased demand and slightly lower transportation costs , these are ...

Source: Foodmate