Filipino banana exporters are proposing that their government initiate talks with Japanese retailers to increase their prices, to offset rising production costs and keep up the profit margins of local growers.
In a letter to Philippine Agricultural Attache to Japan Jose I. C. Laquian, the Pilipino Banana Growers and Exporters Association (PBGEA) sought the government’s support in requesting higher prices for bananas sold in the Japanese market. The move, the PBGEA argued, would help the local banana industry cope with many challenges it faces today, including disease outbreaks and rising production costs, among others.
Data from the Philippine Statistics Authority showed the country’s banana exports to Japan from January to August declined by 40.3 percent to $309.470 million from $518.062 million in the same period of last year. Volume wise, banana shipments to the East Asian country declined by 42 percent to 599,929.947 tons from 1.034 million metric tons recorded in the eight-month period of last year, based on PSA data.