International sanctions against Iran for bananas exporters

International sanctions against Iran have caused difficulties to banana exporters in the Philippines.

These sanctions have caused difficulties for payments of exporting companies. Some have seen their incomes drop by 70 to 80%. Many producers and exporters from the Philippines plans to stop shipments.

The country is the second largest banana exporter after Ecuador and Iran is a major market for the Philippines. This is the largest market in the Middle East, representing 159 million USD for bananas and 32 million for pineapples.

The situation seems difficult for professionals from the Philippines who are looking for other markets such as Turkey, Lebanon, Russia and Poland.

source : the national ae