The Philippine banana industry is pointing towards China's economic recovery as a positive sign for its business in 2010.
Chair of the Mindanao Business Council Vicente Lao said on Monday that the island's chief agricultural exports of pineapples and bananas are shaping up to perform well this year.
"Agricultural products this year will perhaps be in a much better shape because most of the commodities we have in Mindanao are experiencing a rebound," Mr Lao told the Philippines' Sun Star.
He added that Mindanao's banana exports were likely to be boosted this year by China's continued recovery from the global recession.
"Their standard of living has improved so much that a chain effect is created in their lifestyle," Mr Lao said.
"Before China would only buy class C, class B bananas, but now they can already afford to buy class A bananas. This is an effect of China's growing economy.
"Although we have challenges and issues like the aerial spraying that have been pestering the banana industry, by and large the commodities of Mindanao are experiencing a rebound."
Mr Lao said Mindanao is currently well positioned in the international market, and the growing demand from China would further strengthen that position.
"Right now we hold a very strong position in the banana industry. 98 per cent of the bananas in Japan are from the Philippines and more than 90 per cent of bananas in the Middle East are from the Philippines."
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