1. Weekly News

Cameroon

Banana Exports From Cameroon Dropped by 11.6% YoY in Jun-24

According to the Cameroon Banana Association (ASSOBACAM), Cameroon's banana exports declined by 11.6% year-on-year (YoY) in Jun-24, totaling 14 thousand tons, primarily due to reduced shipments from three of the country's four active producers. Plantations du Haut Penja (PHP), a subsidiary of La Compagnie Fruitière de Marseille, reported a decrease of 1.9 thousand tons. At the same time, exports of the state-owned Cameroon Development Corporation (CDC) dropped from 2.6 thousand tons to 2.4 thousand tons. Boh Plantations Plc also experienced a decline of 526 tons. Despite these challenges, Compagnie des Bananes de Mondoni (CDBM) defied the trend by markedly increasing its exports, maintaining its position as Cameroon's third-largest banana producer for the second consecutive month.

Colombia

Colombian Banana Production and Innovation by Banasan Group

In 2023, Colombia experienced a 2% YoY increase in banana production, reaching a total output of 2.6 million tons. This growth was driven by companies like the Banasan Group, which traditionally ranks fourth or fifth in banana production. Operating on a large plantation spanning 5 thousand hectares (ha), it can export up to 12 million boxes of bananas annually. Banasan Group demonstrated innovation by adding banana flour to its product lineup. Banana flour stands out for its nutritional benefits, being gluten-free, rich in resistant starch, and boasting a low glycemic index, catering mainly to consumers with celiac disease and diabetes. Through its subsidiary, Banaplus, Banasan Group exports banana flour to industrial partners and plans to ship two containers monthly. The product is available in various formats, including Banavital for domestic markets and 25-kilogram (kg) boxes for international export.

Myanmar

Myanmar's Robust Banana Exports to China Surge Through Kachin Border Trade Ports

Myanmar exported over 150 thousand tons of bananas to China in April and May of the 2024/25 fiscal year, primarily through the Kachin border trade ports of Rekyi and Ganbaidi. ainly produced in Kachin State, the bananas are exported to various parts of China, including Kunming, Beijing, Guangdong, Northeast China, Heilongjiang, Xi'an, Wuhan, Chongqing, Zhengzhou, and even the Russian border. Myanmar’s Ministry of Commerce reports over 60 thousand acres of banana planting area and over 20 companies growing bananas for export.

Philippines

Philippines Grants Regulatory Approval to Tropic Biosciences for Non-Browning Bananas

Tropic Biosciences, a United Kingdom (UK) based company, has received non-genetically modified organism (non-GMO) exempt status from the Philippines Department of Agriculture-Bureau of Plant Industry for its non-browning banana. This regulatory approval allows for the import and cultivation of genetically modified bananas in the Philippines, which is a major banana exporter in Southeast Asia and globally. The Chief Technology Officer at Tropic Biosciences emphasized the Philippines' adoption of a science-driven and transparent assessment process for gene-edited plants. This approach supports and encourages investment in advanced agricultural technologies. Using the CRISPR-Cas9 gene-editing, Tropic Biosciences aims to enhance bananas with resistance to Panama disease Tropic Race 4 (Panama TR4) and reduce food waste.

2. Weekly Pricing

Weekly Banana Pricing Important Exporters (USD/kg)

Yearly Change in Banana Pricing Important Exporters (W28 2023 to W28 2024)

Ecuador

Banana prices in Ecuador saw a slight decrease of 5% week-on-week (WoW) to USD 0.19/kg in W28. However, there was an increase of 8.75% month-on-month (MoM), contrasting with a YoY decrease of 20.83%. This slight weekly decline follows a notable 4.76% drop in W27, which had seen a substantial 42.86% MoM increase. The recent price fluctuations reflect ongoing market adjustments amid seasonal shifts, including the current low season for bananas in July. Additionally, external factors such as the state of emergency in the Galapagos Islands due to drought conditions influenced production, contributing to the overall price volatility observed.

Philippines

Banana prices in the Philippines just increased by 0.42% WoW, reaching USD 1.23/kg in W28 due to steady consumer demand and improved market conditions. Moreover, there is a modest MoM increase of 1.19% due to stability and incremental growth following a balanced supply and demand period observed during the low season in July. Despite challenges from weather disturbances impacting production, the market has been resilient, supported by consistent consumer preferences and strategic adjustments in supply chains to mitigate seasonal fluctuations.

Colombia

In W28, banana prices in Colombia remained steady at USD 0.55/kg since W26. This stability reflects ongoing market adjustments during the typical low season in July, characterized by sufficient local supply and reduced demand. Additionally, there is a 2.63% MoM increase and a 13.69% YoY increase. The MoM increase indicates a slight uptick in consumer demand as market dynamics adapt to seasonal fluctuations. The YoY increase highlights sustained challenges like disease management and fluctuating agricultural conditions impacting banana production in Colombia, contributing to long-term price trends.

Guatemala

In Guatemala, the wholesale banana prices in W28 remained stable at USD 0.17/kg since W24. Additionally, there is a notable 28.22% YoY increase. This stability suggests consistent market conditions despite seasonal fluctuations. The significant YoY increase indicates strong demand trends or supply-side challenges over the past year, influencing pricing dynamics positively. However, caution is advised regarding data anomalies or corrections, as noted by the contrasting MoM stability observed in W27, which could affect the accuracy of YoY comparisons.

3. Actionable Recommendations

Enhancing Export Efficiency for Cameroon's Banana Industry

Cameroon’s banana exporters should implement strategic logistics and operational efficiency enhancements to revitalize banana exports amidst recent declines. They must streamline supply chain management to reduce export lead times, ensuring timely deliveries to international markets. Concurrently, investing in rigorous quality assurance measures will uphold consistent adherence to global standards, guaranteeing bananas arrive in optimal condition.

Enhancing Banana Production in the Philippines with Non-Browning Variety

Tropic Biosciences should swiftly initiate partnerships with local growers and distributors to leverage the new regulatory approval for non-browning bananas in the Philippines. They should implement comprehensive educational programs to inform stakeholders about the benefits of gene-edited bananas, fostering widespread acceptance and accelerating market adoption. Additionally, Tropic Biosciences should collaborate with government agencies and research institutions to bolster research and development efforts, ensuring continuous improvement and adaptation of this innovative technology in Philippine agriculture.

Optimizing Myanmar's Banana Export Route to China

Myanmar should streamline logistics and enhance infrastructure at key border trade ports like Rekyi and Ganbaidi in Kachin State to facilitate smoother and more efficient export processes. This includes improving transportation networks and implementing technology solutions to track better and monitor banana shipments, ensuring timely deliveries to various regions in China and beyond.

Sources: Tridge, Producebusinessuk, Businessincameroon, Freshplaza, Thenewshimachal, MXfruit, PortalFruitcola, Fruitnet