Surpassing the Philippines, Vietnam becomes the largest banana supplier to China

Pathological diagnosis of sharp decline in pepper exports to China Vietnam is the largest banana supplier to the Chinese market

The Import and Export Department ( Ministry of Industry and Trade ) cited data from the Chinese Customs Administration. In the first 8 months of 2024, China's banana imports reached approximately 1.13 million tons, worth 592.1 million USD, down 7.9% in volume and 23% in value compared to the same period last year.

Vượt Philippines, Việt Nam trở thành nguồn cung chuối lớn nhất cho Trung Quốc

In the first eight months of 2024, China's average import price of bananas from the world reached 524 USD/ton, down 16.3% over the same period last year. Of which, China's average import price of bananas from most sources decreased, except for Mexico.

There has been a shift in the structure of banana supply to the Chinese market, with Vietnam becoming the largest banana supplier to China in the first 8 months of 2024, with imports reaching 459,940 tons, worth 189.82 million USD, up 19.6% in volume and 0.8% in value over the same period last year.

Vietnam's banana market share in China's total imports increased from 31.33% in the first 8 months of 2023 to 40.71% in the first 8 months of 2024. Similarly, in the first 8 months of 2024, China sharply increased banana imports from Laos, Mexico, and Indonesia.

On the contrary, China has reduced banana imports from the Philippines and Cambodia. Thus, the Vietnamese banana industry has replaced the Philippines as the number 1 supplier and is gaining an advantage in the Chinese market.

The reason is said to be unfavorable weather in the Philippines, leading to lower production and higher prices. Although Philippine bananas are still popular in the Chinese market for their taste, the scarcity of supply and higher costs have allowed Vietnamese bananas to expand their market share. In addition, geopolitical tensions have also affected China's reduction in banana imports from the Philippines.

Source: https://congthuong.vn/vuot-philippines-viet-nam-tro-thanh-nguon-cung-chuoi-lon-nhat-cho-trung-quoc-352562.html