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China has cut down on the importation of Bananas from the Philippines for this Year of 2024 by an incredible 49% compared to that of last Year of 2023, mainly due to Tensions brought about by the two Countries' Territorial Disputes in the South China Sea (SCS), this is according to the Data from the International Trade Centre (ITC).
The Pilipino Banana Growers and Exporters Association (PBGEA) itself confirmed that the Disputes did cause China to buy less, and other Observers like from the University of Asia and the Pacific Center for Food and Agri Business also shared the same View.
As a Result, the Philippines' share of the Banana Market in China also went down, this time from 37% to now only 24%.
China instead is now buying more Bananas from Vietnam to make up for their cutting down on Imports from the Philippines, and as a Result, Vietnam's Share of China's Banana Market grew from just 19% last Year to now at 42%.
This Piece of News comes at a bad time as the Philippines' Share of the Banana Market in South Korea has also fallen by 10%, from 70% last Year down to 60% this Year.
I can understand why China would want to buy less from the Philippines now under the Pro-United States (US) and Anti-China Administration of Bong Bong Marcos (BBM), but what I don’t understand is why the US and its Allies are unable to make up for the cut down of Importation by China?
BBM has been giving it all out for the US by constantly antagonizing China, but so far the US has not been able to provide anything Substantial in the Field of Trade to the Philippines. At this rate, more moves like this by China and the West’s inability to make up for it will result in very bad Effects to our Economy.
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| China cuts Banana imports from Philippines due to Territorial Disputes, West yet to make up for it |
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