Vietnam becomes the largest banana supplier to China, surpassing the Philippines

Published 2024년 10월 16일

Tridge summary

In the first eight months of 2024, China's banana imports saw a decline of 7.9% in volume and 16.3% in value compared to the previous year, with the average import price falling to 524 USD/ton. Vietnam became the largest banana supplier to China, increasing its market share significantly, while imports from the Philippines and Cambodia decreased. This shift is due to unfavorable weather conditions in the Philippines, which led to reduced production and higher prices, along with geopolitical tensions affecting trade. Vietnam's banana industry has taken advantage of these circumstances to strengthen its position in the Chinese market.

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

Original content

According to data from the Chinese Customs Administration, in the first eight months of 8, China's banana imports reached approximately 2024 million tons, worth 1,13 million USD, down 592,1% in volume and 7,9% in value compared to the same period last year, according to the Ministry of Industry and Trade. In the first 8 months of 2024, the average import price of bananas from China from world reached 524 USD/ton, down 16,3% over the same period last year. In particular, the average import price of bananas to China from most sources decreased, except for Mexico. There has been a shift in the structure of banana supply to the Chinese market. Vietnam has become the largest banana supplier to China in the first 8 months of 2024, with imports reaching 459,94 thousand tons, worth 189,82 million USD, up 19,6% in volume and 0,8% in value over the same period last year. Vietnam's banana market share in China's total imports increased from 31,33% in the first 8 months of 2023 to 40,71% in ...

Source: WTOCenter