In a recent report by the General Department of Customs and Excise (GDCE), Cambodia's fresh banana exports witnessed a downturn in the first 11 months of 2024, totaling $138.71 million, marking an 11.2% decrease from the previous year's $156.2 million. The majority of the exports, 94.7%, were directed to China, amassing approximately $131.41 million. Other markets included Japan, Vietnam, South Korea, and Thailand, contributing to the rest of the export figures.
Hun Lak, director of Longmate Agriculture Co., attributed this decline to two primary factors: adverse weather conditions and a 10% decrease in banana prices. Despite these challenges, he noted that the international demand for Cambodian bananas has remained stable. The fluctuation in prices, with a carton of fresh bananas experiencing a dip from $10-$11 to $8-$9, reflects the broader market dynamics impacting the sector.
The unique "green" banana variety from Cambodia was highlighted for its distinctive qualities, including its taste and longevity post-harvest. Efforts to enhance the agricultural sector's productivity were acknowledged by Lor Vichet, vice-president of the Cambodia Chinese Commerce Association (CCCA), who cited recent investments and improvements in banana varieties as pivotal for future export growth.
The export volume's decline to 290,000 tons in 2023, from a higher base in 2022, underscores the challenges faced by the industry. However, with the provinces of Ratanakiri, Kratie, Stung Treng, Kampot, Kampong Cham, and Kampong Speu leading in production, there is a concerted push towards transitioning from family-based to industrial production to bolster the sector's resilience and output in the years ahead.
Source: The Phnom Penh Post