The Philippines narrowly maintained its position as the world's third-largest banana exporter, as reported by the Food and Agriculture Organization (FAO). This was due to increased competition from South American countries. The FAO's global market review for 2024 highlighted the Philippines' export volume of 2.3 million metric tons, just 100,000 metric tons ahead of Guatemala's 2.2 million metric tons. Colombia matched Guatemala's exports with a similar volume, indicating intensified competition among exporters.
The Philippines, having slipped to the third spot in 2023 when surpassed by Guatemala, continues to face challenges, including pest issues like Panama disease and geopolitical tensions in the South China Sea affecting exports. These factors contributed to a one per cent decrease in the country's banana exports last year.
The FAO data also showed that while Ecuador upheld its status as the leading banana exporter with approximately six million metric tons, Costa Rica now occupies the second position with about 2.4 million metric tons. Compounding the market pressure, the Philippines has seen its share in Asian markets decline due to growing competition from both South American and neighboring Asian exporters. Notably, Vietnam overtook the Philippines as the top banana supplier to China after a 20-year lead.
Amid these dynamics, discussions within the Philippines continue regarding legislative measures to rejuvenate the banana industry and restore its international market share.
Source: PhilStar Global
