La Frutera chairman Senen C Bacani told Business World the company intends to increase its existing 1,100ha plantation by 100ha next year to supply more volume to existing markets.
He told the newspaper he was optimistic the company could sustain double-digit business growth.
“Every year we post higher sales, about 10 per cent growth per year,” he said.
The expansion plan comes despite Iran suspending imports of Philippine bananas, which some predict could cost the local industry US$170m a year in lost revenue.
“There was a problem in Iran. But we have not experienced that because we sell to other countries,” Mr Bacani said?.
The company currently exports more than 5m boxes (13kg) of Cavendish bananas per year, with 60 per cent of that going to Saudi Arabia, Bahrain and the United Arab Emirates, and the balance going to Japan, Korean and China, according to Business World.