Since January, the price of bananas in the world market have been increasing and this is expected to continue over the next six months. However, low production, which is the result of El Nino, and the entry of other countries like Ecuador, into the Philippine banana export market, could hamper the so called "favorable season for exporters."
According to the Philippine Exporters Confederation-Davao, prices of banana per box are now reaching almost US$10 or almost P450, better than the just below P100 per box of 13 kilogram bananas late last year.
PhilExport Confederation-Davao president Ferdinand Marañon said that normal production per hectare is 4,000 boxes but with the onslaught of El Niño the number of boxes per hectare now is at less than 2,000 boxes.
Meanwhile, some 600 delegates and banana growers from all over the country are expected to convene for the 2nd National Banana Congress on April 1 to 2, 2016.
This year, the congress will discuss local and international market dynamics and logistics, and how to strengthen its export market position as South America countries begin to enter the Philippine’s largest international markets including China, Korea and Japan.
Also, the quality of bananas for export will be double checked, as reject banana products are still being exported causing international consumers to complain over quality and damaging the reputation of Filipino bananas.
