Philippines may lose $200 million banana exports to warThe Gulf war has rattled the local banana industry, particularly big exporting companies, as it derails efforts by the Philippines to strengthen its foothold in the growing Middle Eastern market. Iran, Middle East among biggest marketsMANILA, Philippines — Banana exporters in the country stand to lose almost $200 million (around P12 billion) in revenues due to trade disruptions in the Middle East as the war in the region escalates. Banana exports to Iran in 2025 surged by 81 percent to $97.52 million from the $53.79 million recorded in 2024, based on PSA data. Volume wise, banana exports to Iran last year reached 242,877.58 metric tons, about 46.7 percent higher than the 165,448.52 MT recorded in 2024. The country’s total banana exports last year rose by 30 percent on an annual basis to 3.04 million MT from 2.33 million MT.

Source: Philippine Star March 23, 2026 10:25 UTC