Philippine banana exports from January to April nosedived by 50 percent to 739,510 tons (MT) as the industry continued to suffer from anemic domestic production, which was worsened by global shipping and logistical problems.
The volume was 750,476 MT lower than the 1.5 million MT recorded export volume during the same four-month period of last year, according to the latest Philippine Statistics Authority data. The data also showed that export receipts from banana shipments during the reference period plunged by 46.9 percent to $329.3 million from last year’s $620.6 million.
Japan remained as the country’s top destination for banana exports, accounting for 40 percent of the total shipments during the four-month period. The banana exports to Japan, however, declined by 45.35 percent to 277,300 MT from 507,447 MT last year.
The country’s banana exports to China also suffered a double-digit contraction rate. Volume wise, banana exports to China declined by 37.23 percent to 263,399 MT while value of shipments fell by 35.9 percent to $110.771 million.
Source: businessmirror.com.ph
