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6 million) in investment.
The local investment bureau approved the registration of a company called Al Muzafar Agriventure (AMAVI), also known as Amavi Sweet Banana (ASB).
The company plans to establish 1,000 hectares of Cavendish banana plantations in the local area, which is expected to increase production by 2 to 3.
3 million boxes.
These bananas are mainly exported to Japan, China and the Middle East.
The company plans to establish 1,000 hectares of Cavendish banana plantations in the local area, which is expected to increase production by 2 to 3.
3 million boxes.
These bananas are mainly exported to Japan, China and the Middle East.
The Philippines is the second largest banana producer after Ecuador, and China is the largest exporter of Philippine bananas.
However, the local banana industry and exports have been on a downward trend in recent years, mainly because Panama disease or Fusarium wilt has affected banana farms and plantations in Mindanao.
In addition, affected by high tariffs, increased competition, and active subsidy intervention by the governments of Latin American producing countries, the advantages of Philippine bananas in the global market are gradually being lost.
However, the local banana industry and exports have been on a downward trend in recent years, mainly because Panama disease or Fusarium wilt has affected banana farms and plantations in Mindanao.
In addition, affected by high tariffs, increased competition, and active subsidy intervention by the governments of Latin American producing countries, the advantages of Philippine bananas in the global market are gradually being lost.
Statistics from the Philippine Bureau of Statistics (PSA) show that in January 2021, Philippine banana exports fell by 46.
9%, from 159.
4 million U.
S.
dollars in 2020 to 84.
6 million U.
S.
dollars, the largest decline among the ten major commodity categories.
9%, from 159.
4 million U.
S.
dollars in 2020 to 84.
6 million U.
S.
dollars, the largest decline among the ten major commodity categories.
