Pilipino Banana Growers and Exporters Association (PBGEA) president Stephen Antig yesterday said banana production has suffered a marked reduction due to El Niño.
The lack of supply, in turn, has given rise to intensified activities of “spot buyers” who bypass banana companies and offer good prices to banana growers.
Speaking at the Club 888 Forum yesterday at The Marco Polo, Davao, Antig said the volume of banana production has nose-dived by 30 percent over the last six weeks due to El Niño.
In 2009, the banana sector in Mindanao exported 160 million of boxes of bananas. This is expected to reduce by 30 percent this year, Antig said.
With the banana supply shortage, spot buyers are coming in offering good prices to growers who have contracts with banana companies.
He said banana growers and the industry in general will suffer from the activities of spot buyers because the latter are not here to stay. |
