15:14 | 23/09/2015 Trade
Some banana producers in Asia, particularly VietNam, are threatening to overtake the Philippines as the largest exporter of bananas, the Pilipino Banana Growers & Exporters Association, Inc. (PBGEA) said.
Banana is still the Philippines’ top fresh fruit export, but industry players are wary that they will eventually lose their spots in premium markets such as Japan if the government fails to be more aggressive in negotiating with importing countries for reduced tariffs.
Some multinationals are considering relocating to other countries with investor-friendly policies. “Some PBGEA members are already getting invitations to expand and develop banana plantations in Viet Nam.”
The Philippines is the dominant supplier of fresh bananas to Japan, the Republic of Korea, China and New Zealand but Viet Nam, Indonesia, Mozambique, Costa Rica are slowly penetrating these markets.
The Manila Times was quoted as saying that Viet Nam is a big competitor for Pilipino banana sector. Viet Nam is home to around 30 banana varieties, including some unique ones.
Viet Nam is able to industrialize banana production, get rid of traditional variety, and develop those which have high demand in the global market.
In Viet Nam, banana output is around 1.4 million tons per year and banana cultivation accounts for around 19% of total fruit-tree area./.