Banana chip exports seen to drop by 10%
Exporters of banana chips are projecting a 10 percent drop in shipments this year due to the tight supply of local “saba” or “Cardaba.”
According to Ruben See, president of the Manufacturers and Exporters Banana Chips Association of the Philippines (MEBCAP), there was a widespread destruction of Cardaba plantations caused by a series of typhoons last year. This, coupled with a huge demand for saba in
Last year, MEBCAP reported that its members exported 37 million kilograms of banana chips to
While business is brisk, See said local exporters have to contend with a decline in revenues because of the appreciation of the peso and an increase in production cost.
“To avoid incurring losses because of foreign exchange losses, most of us have decided to book orders on a short-term basis. We book orders for only two months, See said.”
The MEBCAP official added that an increase in the price of coconut oil, which is one of the major costs in producing banana chips, has also cut into the profit margin of exporters.
See denied reports that the reason for the drop in banana exports is due to a ban imposed by
See pointed out that the same dried banana exports are accepted in
- Latest
- Trending