Industry organization PBGEA has stated that not only did the Philippines lose market share in the main banana market by Latin American producers, but investment was also losing, which could threaten the domestic production of the world's second-largest producer of precious yellow fruits.
The Philippine Banana Growers and Exporters Association stated that since there is no “new large-scale expansion” of the domestic banana industry, the value of the country’s banana exports this year should be “very similar” to last year’s level of US$1.644 billion.
“For this year, it should be very similar to last year. There are no new big expansions occurring in the industry,” PBGEA Chairman Alberto F. Bacani said on Tuesday. “Sad to say a lot of multinationals prefer to expand in Ecuador or other Latin American countries rather than investing in the Philippines because of the perceived risks of Panama disease especially.”
Bacani noted that Panama disease-resistant banana varieties are ‘good solution’ but they are not ‘100-percent resistant’ to it. “Competing as the number two [cavendish banana exporter in the world], it is really important that this industry is protected and its survival is proliferated. The jobs and the livelihoods of about 1.4 million individuals are dependent on this industry,” he told businessmirror.com.