The Philippines is on the verge of losing its position as the No. 1 supplier of bananas to the Chinese market

According to market analysts, the Philippines recorded a 25% decline in the volume of bananas exported to China in 2021 and various factors may explain that the Philippines is on the verge of losing the position of No. 1 supplier of bananas on the chinese market.

 

The Philippines has had to deal with the negative effects of the health crisis, declining production, trade disruptions but also rising production costs and longer transport times. These various factors have given other banana exporters the opportunity to take market share in China.

 

The Philippines has had to deal with the negative effects of the health crisis, declining production, trade disruptions but also rising production costs and longer transport times. These various factors have given other banana exporters the opportunity to take market share in China.

 

Analysts predict that Vietnam and Cambodia will continue to increase their market share in China.

 

PSA (Philippine Statistics Authority) reported that the Philippines exported 36.5% less fruit last year compared to the previous year, or 2.4 million tons. And the value of exports fell by 31% to 1.1 billion USD.

 

 

source : yicaiglobal.com