Latin American bananas likely to force out Philippines' fruit from Asian markets

The Philippines' share in the main Asian banana markets may be suppressed by Latin American banana growers, who have been forced to find alternative buyers due to the war between Ukraine and Russia.

Pilipino Banana Growers and Exporters Association (PBGEA) is concerned that Latin American banana exporters, such as Ecuador, will redirect their product to Asian markets like China and Japan where the Philippines is already facing competition.

According to PBGEA Executive Director Stephen A. Antig, the closure of the Russian market may force Ecuador and other Latin American growers to find alternative destinations for their bananas with Asia as their number one priority.

The probability of this happening is real since Latin American banana exporters did the same in 2008 and 2009, especially if the war in Ukraine drags on. Dumping would lead to a price drop of Philippine banana exports, according to Antig.

Ecuador supplies approximately 1.5 million tons of bananas to Russia annually and about 170.000 tons to Ukraine. Ukraine and  Russia’s top banana suppliers are Ecuador, Guatemala, Colombia, Costa Rica, and Honduras.