Tridge summary
The Philippines is currently Japan's main supplier of bananas, accounting for 79.8% of total banana imports. However, the Philippines faces high import tariffs on its bananas from Japan, while other Southeast Asian countries enjoy preferential tariffs. Vietnam, on the other hand, has seen a significant increase in its banana exports to Japan, with imports reaching 7,900 tons in the first seven months of this year. With reduced tariffs and growing demand, Vietnam has the potential to expand its share in the Japanese banana market.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
According to the "Vietnam Electronic News", in the first seven months of this year, the Philippines was Japan's main banana supply market, and the country's banana imports from the Philippines accounted for 79.8% of the total imports. However, according to the Philippines-Japan Economic Partnership Agreement (PJEPA), Japan’s import tariffs on Philippine bananas average as high as 13% annually, falling from 18% in winter to 8% in summer. The Philippines is the only country in Southeast Asia that is subject to high tax rates, while other suppliers enjoy preferential tariffs. According to the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP), starting from April 1, 2023, Japan’s tariffs on Vietnamese bananas Import tariffs are reduced to zero, from 3% previously. It is worth noting that in addition to the tariff advantage, the Economic and Commercial Counselor of the Vietnamese Embassy in Japan said that currently, many consumer systems in Japan hope to ...
Source: Foodmate
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