Iran keen on Philippine’s bananas

The country’s banana production expanded by nearly 3 percent to 2.33 million tons in the third quarter of the year, from 2.27 million tons a year ago, according to the latest report from the Philippine Statistics Authority (PSA).

Earlier, an official of the Department of Trade and Industry (DTI) said Mindanao’s banana output could improve in the coming months due to the onset of the rainy season.

Senen M. Perlada, director of the DTI’s Export Marketing Bureau, said El Niño has adversely affected the country’s banana production.

Perlada and the Pilipino Banana Growers and Exporters Association said El Niño is making it more difficult for the Philippines to commit to supply bananas to other foreign buyers.

For one, Iran is keen on buying huge quantities of Philippine bananas following the United Nations’s lifting of international economic sanctions against the Middle Eastern country.

Data from the PSA showed that revenues from fresh banana exports in the January-to-June period fell by 64.66 percent to $241.78 million, from last year’s $684.09 million. In terms of volume, banana exports declined by 62.47 percent to 748,160 MT, from 1.99 MMT in 2014.

Source: www.businessmirror.com.ph