Philippines worries about losing market share

The country is a major exporter of bananas. Being in Asia one of the countries hardest hit by the COVID-19 pandemic, industry professionals fear a sharp drop in exports.

 

 

 

The tens of thousands of confirmed cases of COVID-19 in the Philippines are likely to contribute to a drop in production that will lead to a drop in exports for this year. This health crisis came on top of the reduction in acreage due to Panama disease as well as the fierce competition on the international market.

 

 

 

Members of PBGEA, which contribute more than 50% of the country's total banana production, expect banana exports to decline by 20% this year. From 195 million boxes, worth a total of $1.93 billion in 2019, to 162 million boxes worth around $1.53 billion.

 

 

 

Bananas from the Philippines could lose market share in Asia. Vietnam and Cambodia could thus gain shares in the Chinese market. And Latin American countries like Peru, Ecuador and Guatemala could also increase their presence in Asian markets.