GUATEMALA dislodged the Philippines as the world’s second-largest exporter of bananas last year, ending the Asian country’s four-year reign as it struggled to keep its share in key markets amid stiffer competition from Latin American producers.
Furthermore, FAO pointed out that Filipino banana growers suffered a double whammy since they also reeled from “high costs of inputs and fertilizers” last year. The total estimated banana shipments by the Philippines in 2022 was the lowest in six years or since 2017 when it exported 2.725 MMT, based on FAO data.
“Imports of Filipino bananas, meanwhile, dropped by a reported 8 percent over this period due to the continuing production difficulties experienced in the Philippines,” it said. Colombia’s total banana exports have consistently risen in the past five years as it enjoyed low tariffs imposed by its partner countries.
Source: Financial Digest (financialdigest.net)
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