Vietnam has emerged as the top banana exporter to China in the first four months of the year, surpassing the Philippines. The country exported nearly 355,000 tons of bananas, representing a 22% increase compared to the same period in 2023. This data was revealed by the General Administration of Customs of China. Vietnam’s banana export volume was 2.4 times higher than that of the Philippines during this time frame, marking the first time Vietnamese bananas have outperformed those from the Philippines in the Chinese market. Vietnam accounted for 48.6% of the total banana imports into China.
Despite an increase in volume, prices for bananas exported from 10 countries to China decreased by 2-39%, with Vietnamese goods experiencing a 16% decrease compared to last year. This led to an export value of $145 million in the first four months of the year, up just 3% from $142 million in 2023.
The decline in prices is attributed to China diversifying its supply sources for bananas. The quality of Philippine bananas has decreased due to climate change and increased logistics costs, making their goods over $33% more expensive than Vietnamese bananas.
Vietnam is also competing well with other Southeast Asian suppliers such as Cambodia, Laos and Thailand in the Chinese market. Thailand’s banana prices have skyrocketed leading to China losing interest in their products while Ecuador is also penetrating the Chinese market with large output but increasing logistics costs leading to higher product prices.
In addition to China, Vietnamese bananas are also exported to various countries including Malaysia, Singapore, Korea, Japan and Qatar.
The export value of fruits and vegetables in Vietnam is estimated to reach nearly $2.6 billion in the first five months of this year representing a 28% increase from last year. Bananas are among top exported products following durian and dragon fruit.
Vietnam signed a protocol with China to export bananas which was a significant milestone for their industry and helped boost their reputation in
