Vietnam overtook the Philippines to become the largest banana exporter to the Chinese market in the first quarter of this year, according to the country's Ministry of Industry and Trade. According to the statistics of the General Administration of Customs, the total import of bananas in China from January to March 2024 was 541,000 tons, an increase of 5.3% over the same period last year; The average import price was 3.4 yuan/kg, down 19.0% year-on-year. Major importers Vietnam, the Philippines, Cambodia, Ecuador, Laos banana imports were 276,000 tons, 104,000 tons, 74,000 tons, 55,000 tons, 25,000 tons, an increase of 22.6%, -33.5%, 10.1%, 43% and 231.2%, Vietnam became the largest source of imports in the first quarter. Vietnam, the Philippines, Cambodia, Ecuador, Laos banana import average price per kilogram were 2.9 yuan, 3.8 yuan, 4.1 yuan, 4.5 yuan, 3.2 yuan, year-on-year growth of -12.2%, -13.8%, -22.5%, -19.1%, -35.3%. Vietnam is the largest exporter of bananas, and its prices are the lowest among the three major banana suppliers to the Chinese market, after the Philippines and Cambodia.

According to the Ministry of Industry and Trade, February to March is the peak season for banana sales in the Chinese market. This year, due to the weather, the harvest of bananas in Vietnam has been delayed, and the peak of banana exports will last until April. In addition, due to the weather, the production of bananas in the Philippines is low, and the price of bananas is high, which has formed a huge price difference with Vietnam. In the past, Philippine bananas were highly prized for their taste, but this season's quality has fallen short of expectations, while Vietnamese and Cambodian bananas have improved, so Chinese consumers are consuming more imported bananas from Vietnam and Cambodia.