The export of Philippine bananas to China has seen a sharp decline, with Vietnamese bananas now dominating the market.
This shift is largely due to unfavorable weather conditions in the Philippines, which have led to reduced banana production and higher prices. Meanwhile, Vietnam's banana harvest was delayed, extending the export peak until April. Although Philippine bananas are still favored for their taste, their decreased availability and higher costs have made way for the rising quality and affordability of Vietnamese bananas, which are increasingly preferred by Chinese consumers, along with imports from Cambodia.
Industry sources note that the robust banana market in early 2022 and 2023 encouraged countries like Vietnam, Cambodia, and Laos to expand their banana plantations, further impacting the demand for Philippine bananas.
Geopolitical tensions have also contributed to the decline in Philippine banana exports to China. Ongoing disputes in the South China Sea and rising political friction between the Philippines and China have led some Chinese consumers to avoid purchasing Philippine bananas. In response, importers have reduced orders, fearing oversupply and unsold inventory.
Domestically, Guangdong and Hainan remain key banana production areas. In Guangdong, banana prices range between ¥4.20 and ¥4.80 per kilogram, with moderate supply and average market activity, while demand from traders has declined. In Hainan, prices range from ¥4.60 to ¥5.00 per kilogram, with limited supply and moderate demand, with traders restocking only as needed.