The Philippines is looking for to lift its banana costs in its largest export market, Japan, as rising manufacturing and logistics prices weigh on the Southeast Asian nation’s farmers.
In a uncommon transfer, the Philippine embassy in Tokyo on Wednesday requested the Japan Retailers Association to cooperate on adjusting banana costs to replicate the latest surge in prices, urging Japanese customers and retailers to bear the burden of inflation.
According to the embassy, that is the primary time for the Philippines to make such a request. An embassy consultant added that comparable requests will probably be made to different enterprise teams alongside the banana provide chain.
“The conflict between Russia and Ukraine has resulted in disruption of the supply chain and elevated increase in production and other costs,” Jose C. Laurel V, the ambassador to Japan, informed reporters in Tokyo.
“It will be unrealistic and unfair for Philippine banana farmers to maintain the status quo.”
He harassed that the retail worth of bananas has been flat since 2015 — round 270 yen ($2) per kilogram — citing the Japanese authorities’s official worth statistics.
The Philippines accounts for about 80% of Japan’s banana imports, by far topping the second nation, Ecuador, because of geographical proximity.
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