Fashion
Vietnam has surpassed the Philippines to become the largest banana supplier to China with a 40.7% market share in the first eight months.
China increased its imports from Vietnam by 19.6%, according to data from its customs department, while cutting its imports from the Philippines by 39.2%. Unfavorable weather and diseases reduced the Philippines’ banana output this year and pushed up prices, according to its Ministry of Industry and Trade.
This allowed Vietnamese exporters to claim a bigger share.
Aeon supermarkets in China earlier this year began selling only Vietnamese bananas and stopped stocking imports from the Philippines and Taiwan.
Some other retailers have also followed suit.
Exporters say Vietnamese bananas have reliable quality and quantity and competitive prices, with the country’s proximity to China helping reduce logistics costs.
Vietnamese companies have been trying to meet China’s strict quarantine standards, resulting in higher exports.
But there are also challenges in selling in China.
Vo Quan Huy, CEO of agriculture export firm Huy Long An, said banana prices there sometimes fluctuate hugely, with local produce flooding the market during harvest season and sending prices tumbling.
