Group sees flat growth for banana industry msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
December 14, 2020 | 12:04 am Font Size
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DAVAO CITY The collapse in global banana prices has opened the door for South American producers to sell more of their product in major markets traditionally supplied by Philippine growers and exporters.
Stephen A. Antig, executive director of the Pilipino Banana Growers and Exporters Association, Inc., said countries like China, Japan, and South Korea are now a battleground for South American growers, who are facing oversupply in their home markets.
“COVID-19 encouraged consumers to eat healthy fruits and banana normally tops the list of popular fruits. Incidentally, there is an oversupply in South America and the price per box went down. So they were able to send their bananas to our markets at lower prices,” Mr. Antig said in an email interview.
Latin American banana growers now exporting to Philippines
The collapse in global banana prices has opened the door for Latin American producers to sell their product in the Philippines, where demand remains strong.
Stephen A. Antig, executive director of the Pilipino Banana Growers and Exporters Association, Inc., said the Philippine market is now a battleground for Latin American growers, who are facing oversupply in their home markets.
The Philippine market has grown in importance due to weak international demand, Antig said, noting that volume exported by association members fell 12.4% year on year in September. Citing data from the Philippine Statistics Authority, he said fresh banana exports fell 14.04% by value in the nine months to September.
S American banana growers make inroads into PHL market bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.