The Philippine banana industry is aiming for faster growth in exports this year, as demand from China and the Middle East is expected to grow. The industry group projects exports to rise by 5 to 7 percent this year, barring any conflict in the Middle East, according to Pilipino Banana Growers and Exporters Association (PBGEA) executive director Stephen Antig.
The Philippines shipped about 1.88 million metric tons of bananas overseas in the first 11 months of 2011, up by 3.86 percent from 1.81 million metric tons in 2010, according to industry data. Full-year comparative figures are being finalized.
“The growing economy and population in those two markets, plus the awareness that banana is the cheapest fruit and is full of good nutrients, are expected to drive growth,” Antig said in a text message.
The United States, a coveted market for many products, does not yet factor into PBGEA’s short-term export plans. Due to phytosanitary and other issues, PBGEA members are not yet exporting bananas to the US, which has already started showing signs of economic recovery.
PBGEA is the umbrella organization of 33 banana-producing and -exporting companies.
The banana industry contributes about 24 percent to the country’s total agricultural exports. It is the country’s fifth-largest export today and the second in Mindanao, according to PBGEA.
The local banana industry directly employs some 240,000 workers and has been earning for the country about $720 million a year, according to PBGEA.