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Filippino share in Asian banana exports drops from 90% to 60%

The share in Asian banana exports of the Philippines, the world’s second-largest banana exporter, dropped from 90 percent to just 60 percent last year amid growing competition from neighboring producing countries.

The United Nations’ Food and Agriculture Organization (FAO) said the Philippines’s stature as Asia’s key banana exporter is now being rocked by persisting production woes worsened by stiff competition against growing banana suppliers in the region.

The FAO added that the Philippines banana exports last year plunged by 37 percent year-on-year to 2.4 million metric tons (MMT) from 3.8 MMT.

Despite shrinking market share in Asian banana exports, the Philippines remained as the world’s second-largest exporter of bananas for the fourth consecutive year in 2021.

Source: businessmirror.com.ph


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