Data from the Philippine Statistics Authority (PSA) showed that the country’s banana exports in January to June rose by more than half due to China’s huge appetite for the tropical fruit. Preliminary export figures released by the PSA showed that shipments in the first half reached record high of 2.165 million metric tons, 756,000 MT over than the 1.409 MMT recorded last year.
PSA historical data showed this was the highest volume exported by the Philippines and the first time that shipments exceeded 2 MMT in the first half alone. At this rate, the Philippines is poised to surpass last year’s record high banana shipments of 3.126 MMT.
PSA data also showed that the value of exports in the first half reached $983.740 million, 57.5 percent higher than the $624.704 million recorded last year.
Key markets
Among the key markets for Philippines bananas, China led the pack, as its purchases during the period rose by 71.74 percent year-on-year. China, which accounted for 36.88 percent of total banana exports, bought 798,497.959 MT compared to the 464,932.726 MT it imported from the Philippines in first half of 2018.
Total banana shipments to China during the period were valued at $345.157 million, 70.8 percent higher than the $202.027 million recorded last year.
After being overtaken by China, Japan has remained as the country’s second top market for bananas.
Exports to Japan, which accounted for 31 percent of total volume, rose by 58 percent to 673,287.088 MT, from 426,015.161 MT last year, PSA data showed. According to businessmirror.com.ph, total exports to Japan in the first half were worth $341.529 million.
