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Philippines 01/10/2021

Philippines records decline in volume and value for banana exports

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Over the period January to July 2021, the Philippines have just recorded a variation of -44% in volume and -40.5% in value for banana exports. This is the lowest volume and lowest value recorded in the last 5 years
 
PSA (Philippine Statistics Authority) reported that banana exports from January to July 2021 fell 44% in volume to 1.376 million tonnes (2.484 million tonnes for the same period last year) and 40.5 % in value with 625.747 million USD (1.052 billion USD last year °
 
According to PSA, this is the lowest volume and value of banana exports recorded by the Philippines over a period from January to July in the past 5 years.
 
In the 4 main markets (Japan, China, South Korea, Iran) exports have decreased in volume and value. To Japan, the leading destination for Philippine bananas, shipments varied by -39.5% in value reaching 261.616 million US and -45.32% in volume. To China, exports varied by -30% in volume. To South Korea, exports varied by -44.37% in volume and -38.6% in value.
 
In the Philippines, irregular production caused by Panama disease has resulted in discontinuous exports. In addition, there were national logistical difficulties due to restrictions linked to Covid-19 and international shipping problems.
 
source : businessmirror.com.ph
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Decline in volume (-44%) and value (-40.5%) for banana exports to the Philippines (Photo: philstar.com)
   
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