Philippines Banana Exports Statistics: Suppliers & Exporters Data

As per the Philippines Export Statistics and Database, Philippines Banana Exports reached $1.22 billion in 2023-24. The Philippines exports the most bananas to Japan ($562.58 million), China ($359.76 million), and South Korea ($164.53 million).

Philippines Banana Exports Statistics: Suppliers & Exporters Data

The Philippines has long been known for its vibrant agriculture sector, with bananas being one of the country's top exports. In recent years, the Philippines banana industry has experienced significant growth, with the country emerging as one of the leading suppliers of bananas in the global market. 

According to the Philippines export data, and banana export data, the Philippines banana exports accounted for $1.22 billion in 2023 with an increase of 11% from the previous year. In the first quarter of 2024, banana exports by the Philippines reached $316.28 million. About 2.53 million metric tons of bananas were exported from the Philippines in 2023, 

A little rise over the year before. The value of the nation's banana exports was approximately 68 billion Philippine pesos. In 2023-24, the Philippines ranked third globally in banana exports, behind Guatemala and Ecuador. 

  • Unifrutti Tropical Philippines Inc., Tagum Agricultural Development Company Inc., and Lapanday Foods Corporation are the biggest banana suppliers and banana exporting companies in the Philippines.
  • According to the Philippines Suppliers data and live banana exporters database of the Philippines, there are 650+ active banana exporters and suppliers in the Philippines.
  • These Philippines banana exporters supply bananas to 3500+ buyers worldwide.
  • Based on the Philippines shipment data for 2024, there are 132000+ active banana export shipments from the Philippines.
  • The Philippines exports bananas to 100+ countries, as per the Philippines customs data.  
  • The 4-digit HS code for Bananas is 0803, which specifies bananas as a type of edible fruit under the HS code 08 for international trade.

Let's take a look at the statistics and data behind the Philippines banana exports for 2023-2024 and the key players in the industry with the help of this article.

Key Insights into the Philippines Banana Export Statistics

Other notable aspects of the Philippines’ banana exports include as following:

  • Production of bananas takes place throughout the year in the Philippines, where the industry is well-established.
  • Cavendish bananas make up around half of the Philippines' banana production.
  • The Philippines' primary export destinations for bananas are the Middle East, China, Japan, and Korea.
  • The growth of emerging markets, especially Saudi Arabia and Iran, led to an increase in the Philippines' exports of bananas.
  • Export levels were also increased as a result of the industry's efforts to control the fungal illness Fusarium wilt tropical race 4 (Panama disease TR4).
  • According to a trade agreement between the Philippines and South Korea, import duties on bananas from the Philippines would be gradually reduced. By the agreement's fifth year, tariffs are to be eliminated.
  • Bananas are one of the biggest agricultural export products of the Philippines. 

List of Top Banana Suppliers in the Philippines | Philippines Banana Exporters Database

Several key players dominate the Philippines banana industry, supplying a significant portion of the country's banana exports. Some of the top suppliers in the industry include Dole Philippines, Del Monte Philippines, and Chiquita Brands. 

These banana exporting companies in the Philippines have extensive banana plantations across the country, producing high-quality bananas that meet international standards. These are the leading top 10 banana exporters and suppliers in the Philippines as per the Philippines banana suppliers and exporters database for 2023-24:

Access 650+ Philippines banana Exporters & Suppliers Database with Live Shipment records :- info@tradeimex.in

Banana exporter company

Export value ($)

Exported quantity (tons)

1. Unifrutti Tropicaal Inc.

$280 million

300 thousand metric tons

2. TADECO Inc.

$250 million

250 thousand metric tons

3. Lapanday Foods Corp.

$230 million

240 thousand metric tons

4. Dole Philippines Inc.

$220 million

210 thousand metric tons

5. Del Monte Philippines Inc

$190 million

190 thousand metric tons

6. Sumifru Philippines Corp.

$180 million

180 thousand metric tons

7. Marsman Drysdale Group

$150 million

160 thousand metric tons

8. Hijo Resources Corp.

$140 million

150 thousand metric tons

9. Tristar Group of Banana

$130 million

140 thousand metric tons

10. Highland Banana Corp.

$120 million

130 thousand metric tons

 

1. Unifrutti Tropical Philippines, Inc.: $280 million

Unifrutti Tropical Philippines, Inc

  • A major producer and exporter of premium Cavendish bananas.
  • export quantity: ~300,000 metric tons.
  • Active export shipments: ~1,200 shipments annually.
  • Headquarters: Davao City, Philippines.

2. Tagum Agricultural Development Company, Inc. (TADECO): $250 million

Tagum Agricultural Development Company, Inc

  • One of the largest banana plantations globally, focusing on Cavendish bananas.
  • export quantity: ~250,000 metric tons.
  • Active export shipments: ~1,100 shipments annually.
  • Headquarters: Panabo City, Davao del Norte, Philippines.

3. Lapanday Foods Corporation: $230 million

Lapanday Foods Corporation

  • It specializes in the production and export of high-quality Cavendish bananas.
  • export quantity: ~240,000 metric tons.
  • Active export shipments: ~900 shipments annually.
  • Headquarters: Davao City, Philippines.

4. Dole Philippines, Inc.: $220 million

Dole Philippines, Inc

  • A subsidiary of Dole Food Company, exporting various fruits, including bananas.
  • export quantity: ~210,000 metric tons.
  • Active export shipments: ~1,400 shipments annually.
  • Headquarters: Polomolok, South Cotabato, Philippines.

5. Del Monte Philippines, Inc.: $190 million

Del Monte Philippines, Inc

  • Being a part of Del Monte Pacific Limited, it exports fresh and processed bananas.
  • export quantity: ~190,000 metric tons.
  • Active export shipments: ~1,100 shipments annually.
  • Headquarters: Taguig City, Metro Manila, Philippines.

6. Sumifru Philippines Corporation: $180 million

Sumifru Philippines Corporation

  • A leading exporter of fresh Cavendish bananas.
  • export quantity: ~180,000 metric tons.
  • Active export shipments: ~1,000 shipments annually.
  • Headquarters: Davao City, Philippines.

7. Marsman Drysdale Agribusiness Group: $150 million

Marsman Drysdale Agribusiness Group

  • Cultivates and exports bananas and other agricultural products.
  • export quantity: ~160,000 metric tons.
  • Active export shipments: ~800 shipments annually.
  • Headquarters: Makati City, Metro Manila, Philippines.

8. Hijo Resources Corporation: $140 million

Hijo Resources Corporation:

  • Produces and exports Cavendish bananas and other agricultural goods.
  • export quantity: ~150,000 metric tons.
  • Active export shipments: ~700 shipments annually.
  • Headquarters: Tagum City, Davao del Norte, Philippines.

9. Tristar Group of Banana Companies: $130 million

Tristar Group of Banana Companies:

  • A consortium focused on banana cultivation and export.
  • export quantity: ~140,000 metric tons.
  • Active export shipments: ~650 shipments annually.
  • Headquarters: Davao City, Philippines.

10. Highland Banana Corporation: $120 million

Highland Banana Corporation

  • It specializes in exporting premium-quality Cavendish bananas.
  • export quantity: ~130,000 metric tons.
  • Active export shipments: ~600 shipments annually.
  • Headquarters: Bukidnon, Philippines.

Philippines Banana Exports by Country | Philippines Export Data by Country

In the arena of the Philippine's banana exports by country, Japan emerges as a formidable leader, showcasing an impressive $562.58 million in revenue from 985.46 thousand tons of bananas, holding 46.1% of the market share. Following closely behind are significant players - China and South Korea. The top 10 export destinations for banana export by the Philippines according to the Philippines customs data and Philippines banana export data for 2023-24 include:

Philippines Banana Exports by Country | Philippines Export Data by Country

  1. Japan: $562.58 million (985.46 thousand tons)
  2. China: $359.76 million (802.26 thousand tons)
  3. South Korea: $164.53 million (267.54 thousand tons)
  4. Saudi Arabia: $31.72 million (64.19 thousand tons)
  5. Iran: $28.55 million (108.95 thousand tons)
  6. Hong Kong: $15.09 million (29.62 thousand tons)
  7. Singapore: $13.70 million (23.89 thousand tons)
  8. New Zealand: $12.08 million (11.88 thousand tons)
  9. United Arab Emirates: $11.49 million (19.09 thousand tons)
  10. Qatar: $8.11 million (16.88 thousand tons)

Major Varieties of Banana Exports from the Philippines

Here are the top banana export types from the Philippines in 2023-24 as per the Philippines export statistics:

  • Cavendish Bananas: $1.1 billion: About 50% of all bananas produced in the Philippines are of this kind, which is the most widely farmed. It is the main type that the Philippines exports.
  • Saba Bananas (Cardaba): $80 million: Around 29% of all banana exports are of this cooking-type banana, making it a prominent banana export variety.
  • Lakatan Bananas: $40 million: a common dessert type that makes up 11% of all bananas exported.

Philippines Banana Exports Data in the Last 10 Years

Philippines Banana Exports Data in the Last 10 Years

Year of Exports

Banana export value ($)

Exported quantity (tons)

2013

$963.41 million

3.26 million metric tons

2014

$1.13 billion

7.92 million metric tons

2015

$439.90 million

1.22 million metric tons

2016

$618.83 million

1.39 million metric tons

2017

$687.37 million

1.66 million metric tons

2018

$1.50 billion

3.38 million metric tons

2019

$1.93 billion

4.35 million metric tons

2020

$1.60 billion

3.72 million metric tons

2021

$1.12 billion

2.42 million metric tons

2022

$1.09 billion

2.27 million metric tons

2023

$1.22 billion

2.35 million metric tons

 

Sustaining the Philippines Banana Export Excellence

More than 90% of the Philippines' banana exports come from the Davao Region, which is the country's largest banana-producing region. The Philippines' Banana Capital is the province of Davao del Norte. The Philippines ranks among the top 5 producers and exporters of bananas worldwide as per the Philippine Statistics Authority for banana exports. In the Philippines, 53% of all bananas are Cavendish, the most widely produced cultivar. The following are some issues affecting the Philippines' ability to produce bananas sustainably:

  • Typhoons and Fusarium wilts
  • Changes in climate
  • Competition from banana growers in Latin America
  • Competition from nearby nations, especially in important Asian markets
  • Costly inputs like fuel and fertilizer

Philippines-South Korea FTA Cuts Export Tariffs on Banana, Boosting Economy by $189 Million in 5 Years

  • The Philippines-South Korea free trade agreement (FTA) is projected to save the Philippines $189 million in expenses for banana exports over the next five years.
  • The FTA reduced tariffs on the Philippines banana exports by 6% points immediately, with a further decrease to 12% points from January 1, 2025.
  • Annual savings from the tariff reductions are expected to be approximately $12.6 million, increasing to over $25 million by the second year.
  • The FTA aims to address the Philippines' tariff disadvantage compared to other countries like Vietnam, which will have a 0% duty on banana exports by next year.
  • The Philippines’ share of South Korea's banana imports has decreased significantly from 98.2% in 2012 to 69.1% last year due to competition from other nations with lower tariffs.
  • Previously, bananas from the Philippines faced a 30% tariff while competitors such as Costa Rica, Honduras, Peru, and Vietnam benefited from zero tariffs.
  • The FTA is expected to positively impact other sectors, including machinery, transport equipment, and garments, with phased tariff eliminations over several years.
  • The effect of tariff savings on the prices of Korean goods in the Philippines is uncertain and may vary based on business models and market competition levels.
  • Tariff concessions under the FTA are considered minimal because of already low duties from existing agreements like the ASEAN-Korea FTA and the Regional Comprehensive Economic Partnership.
Conclusion

In conclusion, the Philippines banana industry plays a crucial role in the country's economy, generating substantial revenue and employment opportunities for thousands of Filipinos. With its high-quality bananas, efficient supply chain, and strong market presence, the Philippines is well-positioned to maintain its status as a top banana exporter and supplier in the years to come. By addressing key challenges and seizing new opportunities, the Philippines banana export industry can continue to thrive and prosper in the global market.

Our platform TradeImeX allows users to connect with 650+ active and verified banana exporters in the Philippines. Contact us at info@tradimex.in and find a list of the top Philippines banana suppliers with our search live data feature. 

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