The Philippines’ banana producers are urging Japanese retailers to raise banana prices, due to the increasing burden of rising production and logistics costs. Last week, the Philippine embassy in Tokyo asked the Japan Retailers Association to cooperate on adjusting banana prices to reflect the recent surge in costs, urging Japanese consumers and retailers to bear some of the burden of inflation.
According to the embassy, this is the first time for the Philippines to make such a request. An embassy representative added that similar requests will be made to other business groups along the banana supply chain. Japan is the largest export market for Philippine bananas.