The Import-Export Department of the Ministry of Industry and Trade has reported a shift in China's banana import market, with Vietnam overtaking the Philippines as the leading exporter. Data from the General Administration of Customs China indicates that, during the initial two months of the year, China imported 336,900 tons of bananas, valued at US$159.9 million. This represents a 6.1% increase in volume but a 17.2% decrease in value year-on-year. The average price per ton for these imports was US$474.5, a 21.9% decrease from the previous year.
Specifically, Vietnam's exports to China amounted to 173,500 tons, worth US$70.3 million, marking a 21% rise in volume and a 1.4% increase in value compared to the same period last year. This growth has led Vietnam to account for 51.5% of China's total banana imports. The shift comes as China increases its banana imports from Vietnam while reducing those from the Philippines, where lower production outputs have led to higher costs and a significant price gap with Vietnamese bananas.
Source: english.vov.vn