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MANILA - A group of local banana traders warned that Manila may lose the Chinese market to Ecuador after Beijing imposed tougher quarantine restrictions on Philippine products.
Stephen Antig, executive director of the Pilipino Banana Growers and Exporters Association, said talk is rife in the international market that Ecuador is holding discussions with China to fill the void created by restrictions on the entry of Philippine Cavendish bananas.
“We are looking at other markets that can buffer the impact of the ban that China is imposing on our bananas. While we are at it, other countries are already entering China. And we might lose the market to them,” Antig said.
Ecuador is halfway across the globe from China - a distance that would render Ecuadorian bananas less competitive vis-a-vis Philippine bananas.
But Ecuador subsidizes its banana growers, Antig said.
“We hope for the same kind of support from the government, especially during these trying times for the banana industry. This is the time when we need the government support the most,” he said.
The price Philippine bananas has slumped in the international market because of the glut created by China's import restrictions.
The fruit costs $ 1.50 to $ 2.00 a box, down from $ 4.50 to $5.00 previously.
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