ANN/PHNOM PENH NEWS – Cambodia earned nearly USD140 million from banana exports during the first 11 months of 2024, but this represents a nearly 10 per cent decrease compared to the same period in 2023. The decline has been attributed to two key factors: unfavourable weather conditions and a drop in banana prices.
The General Department of Customs and Excise (GDCE) reported that from January to November 2024, Cambodia exported USD138.71 million worth of fresh bananas, an 11.2-per-cent decrease from the USD156.2 million in 2023.
China remains the dominant market, importing 94.7 per cent of the exports, valued at approximately USD131.41 million. Other markets include Japan (USD5.91 million), Vietnam (USD0.98 million), South Korea (USD0.33 million), and Thailand (USD0.04 million).
Director of Longmate AgriCulture Co Hun Lak told The Post that the export decline was mainly due to reduced yields from poor weather and a 10-per-cent drop in banana prices. Despite this, international demand for Cambodian bananas has remained stable.
He emphasised that while demand is steady, the primary issue has been the weather conditions that have affected the banana harvest in 2024, resulting in a lower yield than in 2023.
For 2024, the price of a carton of fresh bananas (weighing about 13.5 kilogrammes) ranged between USD10 and USD11 early in the year, but by mid-year, the price had fallen to between USD8 and USD9. This marked a 10-per-cent decline compared to 2023.
Lak also pointed out that Cambodia’s “green” banana variety is known for its distinctive qualities.
He described them as “especially delicious” and explained that they cannot remain on the tree for too long, requiring harvesting when still green. They can be transported long distances and last up to two months after being harvested. Vice-President of the Cambodia Chinese Commerce Association (CCCA) Lor Vichet noted that although he is unsure of the exact prices for Cambodian bananas in international markets, he is aware that Cambodia is making significant efforts to expand and strengthen its agricultural production.
He noted that recent investments in the agricultural sector and the improvement of banana varieties are expected to boost Cambodia’s agricultural export volumes in the future. He added that the export of bananas will continue to grow in the coming years, as Cambodia transitions its agriculture from family-based to industrial production.
In 2023, Cambodia exported approximately 290,000 tonnes of fresh bananas, a 21-per-cent decrease compared to 2022.
