Banana exports from the Philippines fell by 10 percent to $1 billion from $1.1 billion from January to July, as Covid lockdowns impacted economies and international trade, Philippine Statistics Authority (PSA) data showed.
Total banana shipments during the seven-month period dropped 4 percent to 2.44 million tons from 2.54 million tons in the same period of last year. Japan was the country’s top banana export market during the reference period, accounting for almost half of the total value of shipments.
Banana exports to Japan rose by 12 percent to $455.06 million from last year’s $406.75 million as the volume of shipments expanded by 15.17 percent. Given the increase in exports to Japan, the East Asian market is poised to regain its position as the Philippines’s top banana market this year.
China had been the country’s top banana export market in the past two years, but its purchase of the yellow fruit from the Philippines fell by 30 percent to $287.42 million.
The Pilipino Banana Growers and Exporters Association (PBGEA) sees total banana exports this year drop by 17 percent to 162.2 million boxes from 195.5 million boxes last year.