According to Chinese Customs, Vietnam exported 460,000 tons of bananas to China in the first eight months of 2024, valued at nearly $190 million. The shift in market dominance is attributed to unfavorable weather conditions in the Philippines, which led to reduced banana yields and higher prices. Although Philippine bananas remain popular in China for their taste, supply shortages and rising costs have impacted their availability.
Data from Chinese Customs also revealed that China imported approximately 1.13 million tons of bananas, worth $592.1 million, in the first eight months of 2024. This represents a 7.9% decrease in volume and a 23% decline in value compared to the same period last year. The average price of bananas imported to China dropped by 16.3%, with the exception of bananas from Mexico, which saw price stability.
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Source: Vietnam Insider