The Philippine banana industry is one of the top agricultural export earners. The increase in demand worldwide has resulted to greater expansion of area planted to banana. As a tropical country, Philippines grows an abundant varirety of fruit crops primarily for local consumption and export market. Banana is considered as the most important fruit crop in the country in terms of volume production and export earnings. Philippines ranks second to Ecuador as the top banana-exporting country in the world. Total bananas shipped in the first 11 months of 2011 amounted to 1.88mn metric tons, 3.86% higher in 2010. Companies are now targeting Russia as another market for Philippine banana exports aside from U.S. and Japan. Fresh banana export in the 1st quarter of 2012 grew by 18.05% to USD 271.8mn from USD 230.3mn in the same period last year. Banana production has been steadily increasing over the years, it rose by 1.63% in 2011. •Adverse effects on exports such as bananas, papayas, pineapples, (but counterparts in Japan, Korea not reporting infestation), amid territorial dispute with China oChina to continue quarantine fruits from the Philippines (190 containers already allowed as of May 27, 2012) oChina 2nd biggest importer of Philippine bananas (30% of total Philippine banana exports) after Japan oBureau of Plant Industry: Banana exports to China dropped by about -90% after stricter quarantine measures (from 16,000 metric tons per month). •Philippine banana exporters planning to stop exports to Iran, after payment delays (from 2 weeks, to more than 4 weeks starting Jan. 2012); Iran offering oil as payment instead •Pilipino Banana Growers & Exporters: Fungus (Fusarium wilt) could wipe out Philippine banana industry in 3 years unless cure is found •Cebu-based businesspersons targeting Russia as another market for Philippine banana exports (and other fruits such as mangoes), other than the US, Japan. •First Pacific plans to invest in Philippine agriculture ventures on the production of cash crops such as sugar and bananas •Department of Agriculture: Nothing definite yet on exports of Philippine bananas to the US (freight cost a concern; 27-day journey).