The Department of Trade and Industry XI (DTI) has registered new investments totaling $2.7 million for Cavendish banana exports and $1.53 million for banana chip exports in the Davao Region for 2024. The department supported 30 exporters, resulting in $826,200 in export sales and $738,000 in domestic sales from January to December 2024. Additionally, DTI-Davao del Norte's OIC provincial director, Zerline Balleque, reported the creation of 1,000 jobs due to these investments in the banana sector.
In 2023, the Philippine Statistics Authority XI (PSA) highlighted that the banana industry continued to lead exports in the Davao Region, with earnings reaching $1.19 billion, surpassing coconut oil with a $263.95 million export value. Bananas comprised 48.18% of the region's total exports. Despite its success, the industry faces challenges from Fusarium wilt (Panama disease), leading to the cessation of operations on some farms. Efforts from local government units and the Department of Agriculture are underway, employing new technologies like drones and fertilizers to combat the disease. Balleque mentioned that large banana plantations can utilize these technologies due to adherence to good manufacturing practices (GMP), whereas smaller farms continue to struggle with the disease's impact.
Source: Mindanao Times