In the initial four months of the current year, Vietnam exported 355,000 tons of bananas to China, marking the highest export volume to this market by any country. This quantity was 2.4 times higher than that of the Philippines, which is the second-largest exporter globally, making up 48.6% of China's total banana imports. This occurrence marks the first instance of Vietnam outpacing the Philippines in this sector.
Despite a 22% year-on-year surge in export volume to China, the export value for Vietnam only saw a 3% increase, reaching US$145 million. This discrepancy is attributed to a 16% decline in price per ton to $407.7. An executive from a banana export company in Dong Nai Province attributed the price drop to heightened competition and China's diversification of its banana suppliers.
The executive further noted that Vietnam's competitive edge is partly due to the decline in both output and quality of the Philippines' bananas, exacerbated by climate change. Additionally, Dang Phuc Nguyen, the general secretary of the Vietnam Fruit and Vegetable Association, pointed out that increased shipping costs have made Philippine bananas 33% more expensive than Vietnam's for the Chinese market.
Source: e.vnexpress.net