According to the Food and Agriculture Organization (FAO), Colombia is now the third-largest banana exporter in the world, surpassing the Philippines. Last year, Colombia exported 2.31 million metric tons (MMT) of bananas, 29,000 metric tons more than the Philippines' 2.28 MMT.

Ecuador remains the top exporter, with 5.76 MMT, followed by Guatemala at 2.6 MMT. The FAO reports that the spread of Banana Fusarium Wilt Tropical Race 4 (TR4) is significantly affecting Philippine banana production, leading to a 3.1 per cent decline in exports compared to the previous year.

Despite this setback, the Philippines remains the leading banana exporter in Asia, supplying over half of the region's shipments. However, its exports to key markets like China and Japan have decreased due to supply shortages, with a 39 per cent drop in exports to China and a 4 per cent decline in imports to Japan from January to July 2024.