The Food and Agriculture Organization (FAO) of the United Nations projects a 15.8% increase in pineapple exports from the Philippines, reaching 692,365 tons due to favorable growing conditions. The FAO's Major Tropical Fruits Market Review anticipates a 4% rise in global pineapple exports to 3.3 million tons by 2024, with Costa Rica and the Philippines, holding market shares of approximately 65% and 21% respectively, driving this growth.
As of August, preliminary trade data indicates a 3% year-on-year growth in pineapple shipments from the Philippines to China, its primary market. Despite China's annual production capacity of about 2 million tons, a shift towards premium pineapples has increased its import demand. The Philippines' MD2 pineapple variety is particularly popular in China. Japan and the Republic of Korea are also significant markets, with imports expanding by 28% to Japan and 37% to Korea in the first eight months of 2024.
The FAO reports that the average export unit value of Filipino pineapple shipments stood at $617 per ton during this period, marking a 5% year-on-year increase. In contrast, Costa Rica's pineapple shipments are expected to grow by 3% to 2.1 million tons, mainly destined for the US and European Union, with an average export unit value of $564 per ton, a 3% increase from the previous year.
However, the FAO estimates a decline in Philippine exports of mango, mangosteen, and guava by 9.84% to 13,141 tons and a 24.5% decrease in papaya exports to 7,545 tons. Overall, global exports of major tropical fruits are expected to grow 2% to $11 billion, with mango, mangosteen, and guava exports increasing by 3% to 2.5 million tons and pineapple exports by 4% to 3.3 million tons.
Source: Business World