In the first four months of the year, Vietnam surpassed the Philippines to become the leading country exporting bananas to China, with a volume of nearly 355,000 tons, an increase of more than 22% over the same period in 2023.
The data has just been announced by the General Administration of Customs of China. Accordingly, in the first 4 months of the year, Vietnam’s banana export output was 2.4 times higher than that of the Philippines. This is the first time Vietnamese bananas exported to China surpass the Philippines – the country ranked second in banana growing area in the world, after Ecuador. With an export output of 355,000 tons, Vietnam accounts for 48.6% of the total banana output imported into China.
However, banana export prices of 10 countries to China simultaneously dropped sharply by 2-39%. Vietnamese goods alone decreased by 16% over the same period last year, down to 407.7 USD per ton. This is also the reason why Vietnam’s banana export value in 4 months only reached 145 million USD, up 3% over the same period in 2023, while output increased by 22%.
Talk to VnExpress, The leader of a banana export business in Dong Nai said the price decreased because China diversified its supply sources. In addition to importing from Vietnam and the Philippines, this country also imports from many different markets.
According to him, Vietnamese bananas are dominating because they have more advantages than every year. Banana production in the Philippines – the country that has had the leading market share in China for decades – has declined due to the effects of climate change. In addition, the quality of Philippine bananas has also gone down.
Mr. Dang Phuc Nguyen – General Secretary of the Vietnam Fruit and Vegetable Association – said that this year, the quality of Philippine bananas has decreased because many growing areas are infected with leaf rot disease. Logistics costs from this country to China also increased, making the price of their goods 33% higher than Vietnamese goods. Therefore, China increased its purchases of Vietnamese goods.
In the Chinese market, Vietnam not only competes well with the Philippines but also the main suppliers in Southeast Asia such as Cambodia, Laos, and Thailand. In particular, the skyrocketing price of bananas from Thailand is making China no longer interested in goods imported from this country.
Particularly Ecuador – the country with the largest banana area in the world – is penetrating the Chinese market with large output. However, this country is also limited when logistics costs increase, causing product prices to be sky-high.
In addition to China, Vietnamese bananas are also exported strongly to Malaysia, Singapore, Korea, Japan, and Qatar with the quantity increasing rapidly each year.
According to the Import-Export Department (Ministry of Industry and Trade), in the first 5 months of this year, the export value of fruits and vegetables is estimated to reach nearly 2.6 billion USD, an increase of more than 28% over the same period in 2023. Bananas are a product with a high export proportion. The third largest exporter in the fruit and vegetable group after durian and dragon fruit. In 2022, Vietnam signed a protocol to export bananas to China. This big step has helped the banana industry transform dramatically and create more prestige in this market.